Take Control of Your Debt with a Consolidation Loan
If you're juggling multiple credit card payments, medical bills, or other debts, a debt consolidation loan from 1st Franklin Financial could be the solution you need. By combining your debts into a single loan with a fixed interest rate, you can simplify your finances and potentially lower your monthly payments.
How Debt Consolidation Works
Debt consolidation is straightforward: you take out a personal loan and use it to pay off your existing debts. Instead of making multiple payments to different creditors each month, you make just one payment to 1st Franklin Financial.
Example: See Your Potential Savings
Before Consolidation:
- Credit Card 1: $150/mo @ 24.99%
- Credit Card 2: $100/mo @ 22.99%
- Store Card: $75/mo @ 28.99%
- Medical Bill: $125/mo
- Total: $450/month
After Consolidation:
- One personal loan payment
- Fixed interest rate
- Set payoff date
- One payment: ~$350/month*
*Example only. Actual rates and payments depend on creditworthiness and approval.
Benefits of Debt Consolidation
- One Simple Payment: Replace multiple due dates with a single monthly payment
- Fixed Interest Rate: Unlike credit cards, your rate stays the same
- Clear Payoff Date: Know exactly when you'll be debt-free
- Potentially Lower Rate: Personal loan rates may be lower than credit card APRs
- No More Minimum Payments: Actually pay down principal, not just interest
- Reduce Financial Stress: Simplify your budget and gain peace of mind
What Debts Can You Consolidate?
You can use a personal loan from 1st Franklin Financial to consolidate many types of debt:
- Credit card balances
- Medical bills
- Store credit cards
- Other personal loans
- Past-due utility bills
- Auto repair bills
Is Debt Consolidation Right for You?
Debt consolidation may be a good option if:
- You have multiple debts with high interest rates
- You're struggling to keep track of multiple payment due dates
- You want a clear plan to become debt-free
- You prefer the stability of fixed monthly payments
- Your total debt is manageable (we offer loans up to $15,000)
How to Apply for a Debt Consolidation Loan
- Calculate Your Total Debt: Add up all the debts you want to consolidate
- Apply Online: Complete our simple application in minutes—no credit impact
- Receive Your Decision: A loan specialist will contact you quickly
- Pay Off Your Debts: Use your loan funds to pay your creditors
- Enjoy One Payment: Make a single monthly payment to 1st Franklin
Ready to Consolidate Your Debt?
Take the first step toward financial freedom. Apply now to see your options.
Apply Now — No Credit Impact
Disclosure: Loan approval, rates, and terms are based on creditworthiness and other factors. Consolidation may not be right for everyone. Consult with a financial advisor about your specific situation.