- Save money on expensive credit card repayments!
- Reduce your monthly outgoings!
- Quick & easy online application!
- We will call you back to discuss your options!
- Get your finances back on track!
- Fast & friendly service!
What is Debt Consolidation?
Debt consolidation is something that is rarely understood by a large number of people, which makes them reluctant to consider it! To consolidate quite simply means to combine several things into one larger thing. As such, a debt consolidation loan is one larger loan that is used to consolidate (merge together) all existing loans and credit card debt. This means that you will only have one monthly repayment to make instead of many. The main benefit of this is that it will usually reduce your monthly commitments every month. This in turn will reduce stress and improve your quality of life, as you no longer have the worry about how you are going to manage to pay all of your bills.
Another benefit that is often overlooked is the fact that a debt consolidation loan, if managed properly, will actually improve your credit score. In fact, it is not unusual for many people to believe that debt consolidation will actually harm it. You need to understand how a credit score is made up before you see that it is actually beneficial. A credit rating is made up of numerous factors. However, probably the most critical one is maintaining regular monthly repayments, and this is made easier after consolidation because they will be significantly less. Another crucial factor is the size of the gap between your credit limit and the amount you have used. As a result of this, if you were to consolidate all your outstanding credit card debts into a cheaper debt consolidation loan and refrain from using them again, you will have improved your credit rating on two counts i.e. you are now able to comfortably meet the repayments for your new consolidation loan, and you have significantly more unused credit.
Other Debt Options
Because debt consolidation may not always be available or the best solution, we have teamed up with one of the country's leading providers of debt solutions. They offer a free initial consultation, and dependent on your particular financial situation will offer you a solution from a variety of debt options available to them. Including but not limited to "Debt Management Plans" and "IVA's". It is worth noting that either of these options will have an adverse impact on your credit rating. That being said it will probably have a least significant impact than not doing anything about your situation.
Rates from 5.7% APR, to 28.49% APR are available, our highest rate is for customers with adverse credit problems. A fee of up to 10% may be charged by some of our partners.