How to pay less interest on a loan?

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Debt, whether it be personal loans, credit cards, or even buying a cell phone in installments, is part of the financial reality of many. However, managing these obligations does not have to be a constant source of stress.

In our latest episode of Financial Gym, with expert guidance from kubo.financiero CMO Javier Covarrubias, we explore a strategy that will help you simplify your finances and even pay less on a loan: debt consolidation.


Debt consolidation to pay less interest
Reunification involves consolidating your existing debts into a new one.
The goal is to obtain a new loan with more favorable conditions that will replace your current debts. But how does this translate into a real advantage for you?

Simplify your financial life
Imagine having one monthly payment instead of several.

Not only does this make it easier to manage your finances, but it also reduces the risk of forgetting payments and facing penalties.

Plus, by consolidating your debts, you may be able to access lower interest rates , which means less money paid in interest over time.


Improve your credit score
By keeping your new consolidated ivory coast mobile database current , you will demonstrate financial responsibility, which can reflect positively on your credit history.

A better credit score opens the doors to future financial opportunities, such as lower interest rates on loans and credit.


When to apply the debt consolidation strategy?
Before your debts become a bigger problem, now is the time to act. Seeking consolidation while you still have a good credit score will put you in a better position to negotiate better terms.