Americans who are struggling to pay down debt are at the core of Discovers personal loans business.
The online financial company, best known for its credit cards, offers personal loans mainly for those looking to consolidate debt. While Discover loans can be used for other purposes, such as paying for a vacation or financing a big purchase, the company provides free tools to manage debt and estimate monthly payments on its personal loans website. It also gives borrowers the option to send money straight to their creditors to pay off debt; not all lenders offer that.
We are focused on helping consumers manage debt better, says Dan Matysik, vice president of Discovers personal loans division.
Discovers minimum cre…
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