View the Total Cost of Borrowing Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.
Consolidating multiple loans means you'll have a single payment each month for that combined debt but it may not reduce or pay your debt off sooner.
Debt consolidation allows borrowers to roll multiple old debts into a single new one.
Ideally, that new debt has a lower interest rate that makes payments more manageable or lets borrowers pay off the total more quickly.
Many people try debt consolidation, but not all emerge better off.
Consolidating your debt into one personal loan may result in considerable cost savings - which equals more money in your pocket!
One loan, one interest rate, one regular repayment and one set of account keeping fees – it may make a difference to your overall situation.
My State will help to guide you through the personal loan application process and provided you have all the information we need, we can advise on the spot if your personal loan is approved.
Talk to My State today about the benefits of debt consolidation.
If you are applying for a My State personal loan, help protect your loan repayments with Consumer Credit Insurance (CCI) which is designed to give you peace of mind knowing that in the event of unforeseen circumstances, your personal loan repayments are covered.
Consolidating multiple credit accounts into one new loan with a single payment may help you lower your overall monthly expenses, increase your cash flow, and eliminate the stress of multiple monthly payments.
When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.
A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.