Veteran Debt Consolidation
While debt consolidation is available for people of all ages and backgrounds, the best debt consolidation for veterans can be accessed through programs designed with military personnel in mind. In contrast with civilians, there are certain factors to keep in mind and benefits to be used if you’re a veteran, about which we’ll tell you more below.
Whether the bills piled up while you were deployed, or it was challenging to find employment when your military service was done, debt can get a hold of you faster than you expect. To get rid of this debt, debt consolidation might be a good option to consider, as it helps you to get rid of your debt as quickly and cheaply as possible.
Debt Factors Affecting Veterans
As with civilian consumers, veterans can see household spending and living costs add up over time. Inflation doesn’t discriminate. However, there are some debt factors that are unique in that they disproportionately affect military service members and veterans. Think of things like continuous relocation and spousal unemployment, these factors tend to increase the risk of military service members and veterans falling into debt.
According to a 2023 Bankrate poll, a staggering 75.8% of veteran families report carrying current debt. These financial burdens often continue after the military services are completed, and our goal is to get this number down.
If you served in the armed forces and you’re carrying a heavy debt burden, don’t overlook the potential solutions for debt relief. Some of the best debt consolidation for veterans can be accessed through VA loans and other programs. Since the VA guarantees up to 25% of the loan, lenders are willing to offer more favorable payment terms for veterans. This guarantee has the potential to save you a significant amount of both time and money, so don’t overlook this.
Finding the Best Debt Consolidation for Veterans
The goal of a debt consolidation program is to help you get out of debt as quickly and cheaply as possible. When you join a debt consolidation program your outstanding balances are reduced, you regain control of your finances, and start getting financially ahead. And remember, debt consolidation is available for both active service members and veterans. It’s never too early to get started with your personalized debt paydown plan.
The best debt consolidation program helps you by looking for the best financing options, comparing the interest rates, payment terms, and other details that will affect your outstanding debt. Rest assured knowing that the best debt consolidation for veterans can be used to help you find financial peace once again.
How It Works
Why should you consider debt consolidation for veterans? If you have multiple credit cards and loans to be repaid, it can be difficult to make ends meet each month. Repayments of different credit cards and loans and the interest associated with those may add up over time, pushing you further into debt each month. And even if you’re paying the minimum, you’re facing years of financial problems as you struggle to pay off the balances. Debt consolidation can help you make this debt burden both lower and more manageable.
The best debt consolidation for veterans provides a solution that rolls all your loans and balances into one simple account. This process often reduces the overall interest costs and lowers the total amount you have to repay. Moreover, multiple bills are reduced down to one payment each month, making the process of repaying your debt more manageable, both mentally and financially. In most situations, the monthly payment after debt consolidation is lower than the sum of the previous payments combined, making it easier to make ends meet each month.
Using the right debt consolidation or relief program can be an effective way to reduce the amount of time it’ll take to eliminate the debts. At the same time, many veterans find that their financial stress is reduced. Joining the civilian workforce after a period of active duty is stressful enough, and we don’t want you to also worry about your finances.
Something really exciting happens after people have their first phone call with us.
They start to feel the power of taking back control of their personal and professional life.
Do You Qualify For Debt Consolidation?
- Up To 50% Lower Monthly Payments
- Reduce Multiple Payments to One
- Debt Free in 24-48 Months
- Quick 2-Minute Approval