What is debt consolidation?

Debt Consolidation

Debt Consolidation just means bringing multiple debts together so you only have to pay out and manage one monthly payment to a single company.

How can Debt Consolidation help me?

  • One payment per month means that you no longer need to worry about making (and potentially missing) multiple payments.
  • Making one payment to one company means there’s a single point of contact.
  • By consolidating your debts into a lower payment you can free up cash for other things.
  • You could significantly reduce the amount of interest you pay each month.

Debt Consolidation Advice

The most common method of debt consolidation is through the use of a debt consolidation loan. However, the methods available to consolidate will heavily rely on your current financial situation. Our advisors can offer you free, no obligation advice regarding debt consolidation loans, even if you have a poor credit history.

What is an Unsecured Debt Consolidation Loan?

An unsecured debt consolidation loan does not require any form of collateral (such as a house or car), however, your current credit rating and your monthly income will determine whether you will be eligible or not. Due to this the interest rates tend be higher, mainly because there is a greater risk to the lender if you can’t pay it back.

Our advisors look at a wide range of lenders and will help you find a loan that you qualify for. If you are unsure on what options are available, fill in our debt solution finder and one of our advisors will assess what the best option for you is. Apply Online now or call us on 0161 962 0053.

What is a Secured Debt Consolidation Loan?

A secured debt consolidation loan is different to an unsecured loan in many ways. Firstly, whereas an unsecured loan requires no collateral, a secured loan does. This means that in order to qualify for a secured loan you need to be a homeowner with equity in your property. The more equity you have in your property, the better your chances are of getting a secured loan. Due to this requirement secured loans often offer larger amounts at a cheaper APR.

Our advisors look at a wide range of lenders and will help you find a loan that you qualify for. If you are unsure on what options are available, fill in our debt solution finder and one of our advisors will assess what the best option for you is. Apply Online now or call us on 0161 962 0053.

Bad Credit? Get a Bad Credit Debt Consolidation Loan

If you suffer from bad credit don’t panic, we offer advice on a wide range of options for your financial situation. It is still possible to get a loan even if you have bad credit. Our advisors will look at every available option to you and find the best solution to your financial problems. Call us now on 020 8010 1534 or Apply Online.

If you don’t qualify for a debt consolidation loan, or you feel it is something you will not benefit from then have a look at some of the other options available to you such as Debt Management, IVA’s, Trust Deeds and Bankruptcy. If you’re unsure on what the best option is for you either use our Debt Solution Finder or call one of our friendly advisors on 020 8010 1534.

 

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