At Lafayette Funding, we know that there is no one-size fits all solution when it comes to managing your debt. Every family is different based on its own set of financial, logistical and emotional circumstances. If you are looking to ease your existing debt load, we will explore alternatives for you to pay off your credit cards at a lower rate that what you may be currently paying.

Lafayette Funding reviews applications to determine if individuals are eligible for loans. If they are eligible, their loan applications are then referred to a loan company. If they do not qualify, Lafayette Funding is unable to assist them in getting a loan.

The Right Way to Pay Off Debt

Accumulating debt can really sneak up on you. Credit cards often offer low monthly payments and high rates of interest that when combined with high balances can become a real financial nightmare. Once you recognize you have too much debt, there are a number of ways to address the problem and repair the damage.

The long term strategy is to control spending and gradually pay off debt, while changing spending habits.An effective short cut, is through a debt consolidation loan. While a debt consolidation loan does not make the debt immediately go away, it can provide immediate relief with improved cash flow. That’s because this strategy will provide a lower rate of interest, lower payments and a faster payoff.

If your debt is overwhelming and you are unable to budget your way out of debt, then a consolidation loan might be the answer. This solution allows you to convert high interest credit card debt into lower interest payments that will pay the debt off faster. The biggest advantage to a consolidation loan is that it offers immediate relief for an overwhelming problem. It can reduce monthly costs so you are living within your means and making progress with paying off debt.

**Qualification for loans is based on information in your credit report indicating that you meet certain criteria. Qualification is not guaranteed if you do not meet select criteria.