Visit your local BB&T financial center to speak with a friendly, experienced BB&T lending specialist about finding a debt consolidation loan with rates and terms that meet your needs.
You are more likely to be offered a secured loan if you owe a lot of money or if you have a poor credit history.
Another important feature of consolidating bills is that it helps your credit record.
As you accumulate more and more debt, you damage your credit record.
“Generally when you decide to finance something, it’s a good idea to structure the length of the loan to match the life cycle of the item.
For example, if you purchase a car you might structure the financing over five years, because at the end of the five years you may consider selling the car.” If you were to structure the financing for your car over 30 years, it means that if you sell the car in five years time, you’ll actually end up holding onto the debt for an additional 25 years – which dramatically increases the overall interest you’re paying for the car.