Refinancing the high-interest rate to a lower one is a good way to save money. Loan Repayment is directly connected to this rate of interest. Though this strategy makes a lot of sense, there are risks attached to it.
Most lenders will charge an origination fee that will not be reimbursed if the loan is paid off early. There is no prepayment penalty @http://lrpstore.com/. This origination fee is a prepayment penalty in a disguise. Using a personal loan to repay a credit card debt makes it an easy way to spend on those credit cards again. You will spend more than you intended to.