TEXAS DEBT CONSOLIDATION LOANS

Why You Should Consider Debt Consolidation Loans in Texas

Debt consolidation loans in Texas can help you get a handle on your debt, potentially combining multiple payments with varying interest rates into one payment with one lower interest rate.

If you’re struggling with debt, you’re not alone. In Texas, residents carry an average of about $6,000 in credit card debt and more than $26,000 in student loan debt. These are two of the most common types of debts among American citizens, and personal loans in Texas are among the most preferred repayment options available.

Western Shamrock Corporation is proud to offer flexible debt consolidation loans in the form of traditional installment loans worth up to $1,480. Few places offer online loans with the flexibility that Western Shamrock offers.

How Do Debt Consolidation Loans Work?

It is not uncommon for Americans to carry several types of debt at once. Many Americans hold student loan debt, medical debt, credit card debt, and various other types of debt that all lead to monthly repayment plans. Over time, managing all these debts can become difficult, and interest will continue to pile up the longer a debt continues, despite timely payments.

In Texas, debt consolidation loans are a bit different from personal loans. Instead of taking out a loan on the merit of your personal credit score, a lender will consider various factors in determining eligibility for a debt consolidation loan. Generally, the lender will want to see details of the outstanding debts the borrower wants to consolidate. If approved, the lender will provide the funds the borrower needs to consolidate their debts into a more manageable repayment plan.

Why Choose a Debt Consolidation Loan?

There are various ways an individual can consolidate debts, but debt consolidation loans like personal installment loans available from Western Shamrock Texas branches tend to be the safest and most flexible. Some of the other options include using a zero-interest balance transfer credit card to pay off the debt or taking out a home equity or 401(k) loan. However, there are significant risks with these options:

  • Using a zero-interest balance transfer credit card may seem like the best way to pay off debts, but this method only really works if you repay your balance within the introductory zero-interest period. This period may only last a few months, so it could wind up leading to a higher interest rate than you were expecting if you don’t pay it down fast enough.
  • A home equity loan is risky if the housing market shifts after taking out the loan. You essentially put up your home as collateral. If the market nosedives, you could end up owing more on your loan than your home is actually worth.
  • 401(k) loans borrow against your retirement savings. If you go this route, you might think it’s a safe bet if you can repay it fast enough, but this type of loan typically incurs penalties against your 401(k) balance. Any delays in repayment could dramatically impact your retirement savings.
A debt consolidation loan through a Texas-based lender like Western Shamrock offers a more manageable form of debt consolidation that’s far less risky than these methods.

Consider Debt Consolidation Through Western Shamrock

Instead of gambling on other forms of debt consolidation, choose a safer and more reliable method of getting out of debt with Western Shamrock. We offer traditional installment loans in Texas designed to provide financial flexibility when you need it. Avoid high-interest debts from lasting longer than they should with our help.

To consolidate your small debts with a traditional installment loan in Texas worth up to $1,480, complete a Western Shamrock application today.

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