Here at Midwest Community, we offer a range of products and services to help our members make the most of their money and get financially healthy.

One of those products is the consolidation loan. Consolidation Loans are personal loans used to pay off multiple other loans and/or credit card debt. The advantage to these loans is they’ll have lower interest rates than the original debt, and allow the borrower to make only one lower payment per month instead of several.

In the short video below, we tackle a few frequently asked questions to help you decide if a consolidation loan might be a smart choice for you.