How Much Can You Save?
Unlock Significant Savings with Simple Debt Solutions
Welcome to Simple Debt Solutions. We provide practical, low-rate personal loans designed to help you regain control over your finances and save a substantial amount in interest payments.
The True Potential to Save Money
A lower interest personal loan can turn multiple high-interest debts into a single loan with a lower interest rate, saving you considerable money. Let's illustrate this with three specific examples:
Example 1: $20,000 debt at 24% APR
Suppose you have a $20,000 credit card debt with an average interest rate of 24%. If you only make the minimum payment of 2% of the balance each month, it could take you over 30 years to pay off the debt, and you would have paid about $58,000 in interest alone. By combining all your debt into a loan with a 7% interest rate, with a fixed monthly payment of $391, you would be debt-free in just 60 months (5 years), and you would have paid only about $3,450 in interest. That's a savings of over $54,550!
| Credit Card Debt | Interest Rate | Minimum Payment | Time to Pay Off | Total Interest Paid | |
|---|---|---|---|---|---|
| Credit card minimum payments | $20,000 | 24% | 2% of balance | >30 years | $58,000 |
| Simple Debt Solutions Personal Loan | $20,000 | 7% | $391 fixed | 5 years | $3,450 |
Total saving $54,550
Example 2: $25,000 debt at 18% APR
Consider a $25,000 credit card debt with an average interest rate of 18%. If you continue making the minimum payment of 2% of the balance each month, it would take you nearly 40 years to pay off the debt, and you would have paid approximately $29,000 in interest. However, if you combine that debt into one loan with a 5% interest rate, with a fixed monthly payment of $472, you'd be debt-free in just 60 months (5 years), and you would have paid only about $3,300 in interest. That's an astounding savings of nearly $25,700!
| Credit Card Debt | Interest Rate | Minimum Payment | Time to Pay Off | Total Interest Paid | |
|---|---|---|---|---|---|
| Credit card minimum payments | $25,000 | 18% | 2% of balance | ~40 years | $29,000 |
| Simple Debt Solutions Personal Loan | $25,000 | 5% | $472 fixed | 5 years | $3,300 |
Total saving $25,700
Example 3: $40,000 debt at 20% APR
Based on recent news, many Americans are struggling with large credit card debts. Let's say you have a $40,000 debt with an interest rate of 20%. Making the minimum payment of 2% of the balance each month, it could take you over 50 years to pay off the debt, and you would have paid an astonishing $126,000 in interest. By combining that debt into a loan with a 6% interest rate, with a fixed monthly payment of $774, you'd be debt-free in just 60 months (5 years), and you would have paid only about $6,440 in interest. That's a tremendous savings of nearly $119,560!
| Credit Card Debt | Interest Rate | Minimum Payment | Time to Pay Off | Total Interest Paid | |
|---|---|---|---|---|---|
| Credit card minimum payments | $40,000 | 20% | 2% of balance | >50 years | $126,000 |
| Simple Debt Solutions Personal Loan | $40,000 | 6% | $774 fixed | 5 years | $6,440 |
Total saving $119,560
Why Choose Simple Debt Solutions?
At Simple Debt Solutions, we're committed to helping you manage your financial journey with ease and clarity. Our personal loans offer personalized plans tailored to your specific needs. High-interest debts shouldn't dictate your financial future. Contact us today to find out how our personal loans can help you simplify your debts and potentially save thousands of dollars.
Call Us Now (800) 485-0094
