The Best Debt Consolidation advice...

• Mortgages/Remortgages: Typical APR 8.5%

• Secured Loans: Typical APR 14.5%  

Debt consolidation (debtconsolidation.co.uk) could be the answer to many individuals’ debt problems. A debt consolidation loan can help you to clear your debt and take control of your finances by replacing all of your monthly debt repayments with one, simple monthly payment.

 

What is debt consolidation?

 

Debt consolidation lets people who are facing a range of debt problems clear them all at once, by consolidating their outstanding, unsecured debt under a new loan. The debt consolidation loan will allow you to pay off your debt with a single, reduced monthly payment, with a lower rate of interest.

Usually, debt consolidation in the UK takes the form of a secured loan, which will use one of your assets as collateral. It is possible to take out an unsecured debt consolidation loan but the rates of interest that they charge make them far more expensive.

If you feel that a secured debt consolidation loan could be the right debt solution for you, there are some things that you must take into account first. For starters, securing any loan against your home is a risk because failure to repay that loan could result in your house being repossessed. Before entering into any secured loan agreement, debt consolidation or otherwise, be sure you can keep up with the repayments.

You should also consider the possibility of remortgaging your home in order to pay off your unsecured debts. This is a question of your priorities; either to focus your attention on paying off your debt or your mortgage.

A secured debt consolidation loan – Achieve a lower rate of interest by consolidating your assorted unsecured debt under a new loan with a single monthly repayment.

Consolidation of debt by remortgaging – Incorporate your unmanageable unsecured debt into your mortgage.

There are a range of debt solutions on the UK market and a debt consolidation loan could be the perfect answer to your debt problem. Talk to a dedicated debt advisor to see if consolidation is right for you.

For more information on debt consolidation loans and for a greater insight into the options open to you, take the 1 Minute Loan Test. We’ll be able to make an impartial recommendation with some information about your financial circumstances.

DebtConsolidation.co.uk is a trading name of Ask Finance Ltd which is registered in England and Wales (company number 4229724), Jackson House, Sibson Rd, Sale, Manchester, M33 7RR. Ask Finance is licensed under the 1974 consumer credit act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.