How Much Can You Save?
Unlock Significant Savings with ClearResolve
Welcome to ClearResolve. 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!
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|
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
|
|
ClearResolve 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!
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|
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
|
|
ClearResolve 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
|
|
ClearResolve Personal Loan
|
$40,000
|
6%
|
$774 fixed
|
5 years
|
$6,440
|
Total saving $119,560