DEMOLISH YOUR DEBT

Becoming Debt Free is a Cause for Celebration

We hope you enjoyed the holiday season. For many, the euphoria will dissolve into post-holiday blues as those bills start to come in. Unsecured, revolving, high interest debt can be disturbing, demoralizing, and depressing. On a positive note, it can also be dealt with. And we can help.

  1. HOW MUCH DO YOU REALLY OWE? Don’t be embarrassed. A lot of good people have accumulated a lot of debt and many don’t know or keep track of the total. If you are going to consolidate, you have to know how much you’ll need to borrow. Total up the credit card balances and any unsecured, personal loans you are paying for.
  2. INTEREST IS KEY. For consolidation to make sense, you have to pay a lower interest rate, so write down the rates you are paying for comparison.
  3. TAKE YOUR TIME. That’s one of the benefits of credit cards; you can take your time paying them off. But if your interest rate is high and you only make minimum monthly payments, it can literally take decades to pay it off. You want a card with a good rate and you want to make more than minimum payments whenever possible.
  4. OPTIONS. We offer a Bill Consolidation Loan. Rates are as low as 9.49% APR* and you can borrow as much as $50,000 for 5-years. If you needed that amount and you qualify, you’d have a monthly payment under $400 and you could be debt free in 60-months. If you own a home, a home equity loan or home equity line of credit might make more sense. You can also transfer a higher interest balance to a new Point Loma Ultra Visa Credit Card, which has a very competitive rate. We’ve also partnered with GreenPath Financial Wellness. They provide free one-on-one financial counseling. They can help you make smart financial decisions, manage debt, save for the future and achieve financial goals. GreenPath helps more than 200,000 people every year.

IF YOU, OR SOMEONE YOU KNOW, ARE READY TO DEAL WITH DEBT, POINT LOMA CREDIT UNION IS READY TO HELP.

FOR MORE INFORMATION,

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*PLCU Annual Percentage Rate effective 12/31/17 and includes 0.50% discount for Point Loma Relationship Pricing Plan. Interest will continue to accrue during 60-day no-payment period. Your current billing statement(s) may be required. You will be responsible for any finance charges to other lenders accrued between your last payment and the date the amount is paid. Keep your account(s) with other lenders current as processing loan payoff may take several days. PLCU reserves the right to require closure of account(s) paid off with Bill Consolidation Loan prior to funding. All rates, terms and conditions subject to change without notice. Loans subject to credit approval. Monthly payment per $1,000 borrowed for 60-month term at 9.49% APR: $21.00.