Not everyone who needs cash now has a structured settlement or annuity. That’s why at J.G. Wentworth, we offer access to personal loans to give you more options. Personal loans can be used for anything from debt consolidation to starting your own business.
High-interest debt can be crippling, but it doesn’t have to be. Debt consolidation is taking out one big loan to pay off multiple smaller loans. Personal loans are one of the most common forms of debt consolidation. In most cases, personal loans offer lower interest rates than credit cards, which allow you to pay more on the principal, rather than worry about paying off the interest. The more interest you pay, the less you can dedicate to the principal. You can choose a company to work with and find the loan to fit your needs best.
Debt consolidation can also help you pay off your debt in a shorter amount of time by lowering monthly payments and avoiding paying the absolute minimum every month. It can take years to pay off credit card debt, and even longer than that to pay off student loans. Personal loans give you more options with shorter terms ranging from three to seven years, depending on your specific situation. Instead of multiple payment amounts and dates to worry about every month, you only have to worry about a single payment.
Suppose there is damage to your house from a storm that your insurance company won’t cover, or a costly car repair catches you off guard. Instead of charging unexpected expenses to your credit cards with high interest rates, you can consider taking out a personal loan. By taking out a personal loan through one of the companies in the marketplace, you can get the funds you need to make the necessary repairs. After you get approved, funds can be available within days, making your life easier.
You can visit our loan inquiry page, powered by FinMkt, to enter your information and see rates from multiple companies. Checking your rate won’t adversely affect your credit score, so you may want to consider getting pre-approved for a personal loan today.