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Benefits of Debt Consolidation

What To Do After Consolidating Debt

Paying down high-interest debt is an excellent way to feel better about your overall financial health.  If you’re spending a lot of emotional energy worrying about your debt, finding a way to get it quickly under control could help  One strategy might be to consolidate debt — 85% of surveyed customers who consolidated debt with a Discover personal loan told us it helped them improve their financial future.* And less stress may mean more motivation, to manage your debt as well as plan for your financial future.

When you consolidate with a personal loan, you get the advantage of making one monthly payment. And, a personal loan can save you money on interest. 86% of surveyed customers told us they saved money by consolidating debt with a Discover personal loan and the majority of them said they saved an average of $440 per month.*

Having more money in your pocket as you manage debt may allow you to create a strategy to reduce and continue to manage your debt in the future. Once you’ve conquered high-interest debt, moving on to any of the following goals can be a smart financial choice.

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See the potential savings of consolidating higher-interest debt with a loan from Discover.Estimate Savings

ABOUT SURVEY

All figures are from an online customer survey conducted September 13 to September 27, 2021. A total of 619 Discover personal loan debt consolidation customers were interviewed about their most recent Discover personal loan. All results @ a 95% confidence level. Respondents opened their personal loan between January and July 2021 for the purpose of consolidating debt. Agree includes respondents who ‘Somewhat Agree’ and ‘Strongly Agree’.