Debt Consolidation

Savings example assumes a $15,000 credit card balance making 80 monthly payments of approximately $376.83 at 24% APR for a total of $15,146.40 in interest paid as calculated versus a Cigna Funding's Debt Consolidation Personal Loan of $15,000 with a 5% origination fee and making 60 scheduled monthly payments of approximately $376.83 17.5% interest rate for a total of $7,609.99 paid in interest. Actual savings may vary based on the actual APR of existing credit cards and the APR of a personal loan you may obtain through Cigna Fundings.

Debt consolidation questions and answers

Get better understandings about ins and outs of debt consolidation. Please reach us at support@cignafunding.com if you cannot find an answer to your question.

Is a debt consolidation a good option?

It may be a good idea to get a debt consolidation loan if:

You want to combine multiple debts into a single monthly payment. This can simplify your monthly budget and bill paying process.
You want to potentially lower your interest rate on your debts. Instead of paying multiple interest rates across everything you owe, a debt consolidation loan could provide a lower interest rate, depending on your credit and other factors.
You want a longer repayment term. Personal loans for debt consolidation can often come with longer payment terms, giving you more time to pay them off.
You want to lower your credit utilization ratio. Making timely payments on a debt consolidation loan could help improve your credit score over time.
You want your interest rate to stay the same. If you use Cigna Funding to consolidate debt, your monthly payment will remain the same each month through the life of your loan, and if you make your monthly payments on time you will save more.

What is debt-to-income ratio?

Your debt-to-income ratio is the percentage of your total monthly income (before taxes) that you pay toward your monthly debts. Lenders use this percentage to decide if it's a good idea to lend you money. A debt consolidation loan may help you improve your debt-to-income ratio over time by merging your debts into a single, fixed monthly payment.

What is an unsecured debt consolidation loan?

An unsecured debt consolidation loan is a type of personal loan that provides a convenient way to borrow money without the need for clients to put up any collateral, such as a car or house.

Here at Cigna Funding, we offer unsecured debt consolidation loans because they provide our clients with a quick and easy approval process based on credit history and income, which can lead to faster access to funds for debt consolidation.

Educate yourself about debt consolidation

What Is Debt Consolidation and Should I do it?

Learn about debt consolidation and pros and cons of doing it

Will Debt Consolidation Hurt My Credit?

What Is Debt Consolidation and Should I do it?

Discover the benefits of debt consolidation and start saving.

Ways To Consolidate Credit Card Debt

What Is Debt Consolidation and Should I do it?

Ways To Consolidate Credit Card Debt

Explore best methods for consolidating credit card debt to help you tackle yours.

Important information

All loans are made by Cigna Funding LLC, a Florida state Limited Liability Company. All loans are unsecured, fully amortizing personal loans. Eligibility for a loan is not guaranteed. This is not a deposit product.

Qualified prospective customers using Cigna Funding will see loan options for a 36 or 60 month term, and APR ranges from a minimum of 12.0% (rate with autopay discount) to a maximum of 35.99% (rate without autopay discount) depending upon their credit profile. An origination fee of up to 7% is charged for each loan. This fee is deducted from the balance before funds are disbursed to the client. For example, a 60 month $15,000 loan with a 17.5% interest rate and a 5% ($750) origination fee would have 60 scheduled monthly payments of approximately $ 357.99 . Borrower must be a U.S. citizen or permanent U.S. resident at least 18 years of age. All loan applications are subject to credit review and approval and offered loan terms depend upon credit score, requested amount, requested loan term, credit usage, credit history and other factors. Not all borrowers receive the lowest interest rate. To qualify for the lowest rate, you must have excellent credit, meet certain conditions, and select autopay. Rates and Terms are subject to change at any time without notice.

Married applicants may apply for a separate account.

Same Day Funding available for clients completing the loan process and signing the Promissory Note by 2:00PM ET on a business day. Also note, the ACH credit will be submitted to your bank the same business day. This may result in same day funding, but results may vary and your bank may have rules that limit our ability to credit your account. We are not responsible for delays which may occur due to incorrect routing number, account number, or errors of your financial institution.

Please refer to our terms of use for additional terms and conditions, and to Cigna Funding' Privacy policy to learn more about what we do with your personal information.

FL Consumer Finance License number CF9901597

Debt Consolidation

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Why Cigna for debt consolidation?

Same day funding available

No prepayment penalties ever

No prepayment penalties ever

No prepayment penalties ever

No prepayment penalties ever

No prepayment penalties ever

Fixed rates loans

No prepayment penalties ever

Fixed rates loans

Get rid of your debt once and for all

Take stress out of your life

Faster debt payoff

It will help with your credit score

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