Published On : October 25, 2021 by: Sakshi Sharma/Category(s) : Banking & Finance
My Mustang Advisors loan specializes in debt consolidation loans, which can help you pay off high-interest credit card debt. Consolidating debt means taking on a new loan to repay old debt at a lower interest rate. If you take out a debt consolidation loan at 7%, for example, you’ll pay 7% interest on the money you borrow, plus any fees. If you owe $10,000, you’ll pay $1,000 in interest, plus any fees. Debt consolidation loans can have significant benefits, including:
Lower monthly payments: The interest you pay on consolidation loans is much lower than what you’d pay on credit cards with high interest rates. Say you owe $10,000 in credit card balances, and the interest rate is 20%. If you pay only the minimum each month, it would take you 35 years to pay off the debt. But if you consolidate and pay 7%, you’ll pay $7,000 in interest over the life of the loan, and pay off the debt in 15 years.
Lower interest rates: Many consolidation loans use fixed interest rates, the same rate as your mortgage. That makes it much easier to budget because you know exactly what you’re paying each month. Because consolidation loans use unsecured credit, interest rates are lower than those on secured loans. A mortgage, for example, is almost always secured. If housing prices fall, you could lose your home. Debt consolidation loans, on the other hand, are unsecured.
Debt management: If your credit is bad, a debt consolidation loan might be a better option than a credit counseling program. Debt management programs require you to make only the minimum payments on your accounts, and they promise to improve your credit.
On a web browser, on your PC or smartphone enter MyMustangAdvisors Personal Invitation Code. Then on the next page open the link www.mymustangadvisors.com. Once the link is open carefully enter the following details:
Your credit will not be checked if you enter the above details on the online credit application, so your credit score will not be affected by this.
Debt consolidation through My Mustang Advisors is a solution for those with a lot of debt, but who also have a healthy credit history. Their agents specialize in helping individuals get a low-interest rate loan to pay off their existing high-interest debt.
If you’re struggling with high-interest credit card debt, you may be considering bankruptcy. But a debt consolidation loan is a better option for many consumers. A debt consolidation loan can allow you to pay off all your high-interest credit card debt with a single low monthly payment. If you get a 30-year fixed-rate loan, you could shave years off the life of each of your credit cards. A debt consolidation loan can also provide benefits beyond debt reduction. With lower interest rates, your monthly payments will be lower, giving you more money to put toward other financial goals.
If you can qualify for a debt consolidation loan, it can improve your credit. That’s because your lenders will see you as less of a risk. When you pay off your credit cards, your debt to income ratio will be reduced. That, in turn, can improve your FICO credit score.
There are several types of debt consolidation loans:
Steps for Comparison Calculator
Visitors to Mymustangadvisors.com can use the Comparison Calculator to find out easily
how much money the consumer will be able to save through their debt consolidation program. The following is how it works:
Get to Know about My Mustang Advisors Loan-
You will really appreciate the extra savings after receiving your debt consolidation loan, which you can use to do the following:
How do I contact Customer Service?
Contacting our customer service is really easy.
PO Box 55288
Virginia Beach, VA 23471
NOTE: In case you have received a pre-approval letter through an email, be aware that there is a time limit for replying before the low 3.04 percent rate ends.
My Mustang Advisors will help consumers determine their financial needs and determine whether a debt consolidation loan is a right move for them. Once My Mustang Advisors receives the consumer’s financial information, it will contact the consumer’s creditors, negotiate lower interest rates and more.