Are you unsure whether Debt Consolidation is the right choice for you? We can offer you free help and information on a number of debt consolidation alternatives.
For free advice and information about what debt consolidation alternatives might be for you, call us free on 0808 131 0037 and let our advisors help. Or fill in the Debt Consolidation 1 Minute Debt Test to see what debt solution could be right for you.
IVA: IVAs are Government legislation which were introduced as a more practical alternative to bankruptcy. Is is a legally binding agreement that allows any unaffordable debt to be written off.
Debt management: Debt Management is similar to an IVA, as they both require regular payments to your creditors. You will be paying one single reduced payment, no matter how many creditors. Unlike an IVA. it is an informal agreement and no amount of your debt can be written off.
Remortgage: A remortgage still allows you to release equity from your home that you could use to pay off your unsecured debt.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERM OF DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.
For mortgages and re-mortgages the overall cost for comparison is 8.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.
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.