Which is better – Oklahoma debt consolidation program or loan?
An Oklahoma consolidation program may be better for those who can carry on with monthly payments on their debts. It helps you to lower your monthly payments and saves you thousands of dollars. You can also pay off your dues faster, within a period of 4-6 years. But a consolidation loan has a lengthy repayment period. Though you may get rid of all your bills with a single large payment, yet it’ll take a long time for you to pay off the consolidation loan and get out of debt completely. The consolidation allows you to make lower monthly repayments, yet the total interest paid over the life of the loan is quite large. Moreover, there are lenders who may charge hidden fees thereby making you pay more than what you’re charged on an Oklahoma consolidation program. Thus, considering the total interest and costs, a consolidation program may be better than an Oklahoma consolidation loan.
