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What is Debt Consolidation and is it right for me?

Getting rid of unwanted debt is a goal for a lot of people. If you are dealing with high-interest debt, especially from credit cards, a Debt Shed Loan could help you lower your debt faster while saving you money on interest each month.


Why should I consolidate my debt?

One of the best reasons to consolidate your debt is to save money. By combining your high interest debt into one low interest loan, you can save thousands over a 3-year loan (see example). Plus, by combining your high interest debts into one debt consolidation loan, you can pay fewer bills every month.

What is a fixed rate personal loan?

A fixed rate personal loan allows you to combine multiple debts and pay off your debt in installment payments over a set term. Applying for a personal loan is easy, but people with higher credit scores typically qualify for the lowest loan rates.

How do I know if a Debt Shed loan is right for me?

No one can tell you if it is right for you, but there are a few questions that you should ask yourself before applying. First, what is my plan to prevent additional high-interest debt? Do I have a consistent income to make on-time payments towards this debt? Is my credit good enough to qualify for a lower interest rate than I have now?
For many people, consolidating debt can provide an end date to their debt with the set terms of a personal loan. Additionally, making on time payments can raise your credit score over time.

What can I expect as a rate for a Debt Shed loan?

While rates vary between lenders, Christian Financial offers low rates on debt consolidation loans. Depending on some other factors and the amount of revolving credit you may already have with CFCU, you could qualify for up to $15,000 in a Debt Shed loan.

Why should I apply for a Debt Shed?

We will let the numbers speak for themselves!
Balance = $7,000 Balance = $7,000
Interest Rate = 24.66%APR** Interest Rate = 5.99%APR*
Months to payoff = 36 months Months to Payoff = 36 months
Monthly payment = $278
Total Interest Paid = 
Monthly Payment = $213
Total Interest Paid = $665
THAT'S A TOTAL SAVINGS OF $2,353.00*** over the life of the loan.

Why wouldn’t you want to save that much?
Ready to apply for a Debt Shed loan? Learn more and apply online at

*APR = Annual Percentage Rate. Rates shown are the best available, are based on credit history, and subject to change without notice. Please see a CFCU Financial Service Representative for full details. **APR is estimated Store Credit Card average maximum from U.S. News & World Report. ***Max to Lend = $15,000. No additional discounts for Auto Transfer/Electronic Payment. Refinancing of existing CFCU debt not available with Debt Shed. No consolidation of existing Debt Sheds.