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Explore strategic ways to pay off your debt with a local and trusted financial partner in Greater Nevada Credit Union. From personal loans to lines of credit, we’re here to help with options that fit your life. Learn more about our options for debt consolidation loans today.
Debt Consolidation
Take Control of Your Debt
My Credit Health – Free to All Members!
My Credit Health is an all-in-one credit tool fully integrated within Greater Nevada Digital Banking that lets you monitor, manage, and improve your credit.
Over 35,600 members have increased their credit score tier or maintained their top-tier credit score since using it!
Amount is based on active members enrolled in My Credit Health for at least 6 months as of November 2025. Members must be at least 18 years old to use My Credit Health.
What is Debt Consolidation?
Stressed about debt? When you’re juggling multiple sources of high-interest debt (and consequently, multiple monthly payments), it’s hard not to be. Fortunately, at Greater Nevada, you’ll find options for managing those loan amounts more strategically.
Debt consolidation is exactly what it sounds like: using a new loan, typically a personal loan, personal line of credit, home equity line of credit, or home equity loan to pay off other debts and switch to one simple monthly payment. If you’ve accumulated equity in an asset, such as a home or vehicle (including recreational vehicles like RVs), then another option to consider is a cash out refinance. It could be a simple way to tap extra money and use it to help consolidate your other debts.
Another option some people explore is using a credit card that offers an extended 0% introductory interest period. This can give you time where every payment goes directly toward reducing the principal balance rather than interest. However, it’s crucial to factor in any balance transfer fees because they are typically a percentage of the amount you move over. Be sure to compare the total fees and the length of the promotional period to your overall payoff plan before making a decision.
Ideally, consolidating your debt will help you secure better loan terms and interest rate (and possibly pay off your debt faster), but it’s not guaranteed–especially for applicants with less-than-perfect credit history. Keep in mind that no two situations are exactly alike when it comes to debt consolidation.
Greater Nevada is Here to Help
Not only do we offer financial solutions, but all members can also take advantage of free and confidential financial coaching. GNCU has partnered with BALANCE to offer this helpful resource, enabling members to achieve financial peace of mind.
Does consolidation affect my credit score?
What is the minimum credit score for a debt consolidation loan?
Is debt consolidation a good reason to get a loan?
When is debt consolidation a good idea?
Let’s See What We Can Do to Help
Take control of your financial wellness by exploring Greater Nevada’s debt consolidation options. Apply online or contact us through our lending hotline to learn more.
