Sometimes it can feel like your debt is increasing every month, as you struggling to juggle your incomings with your outgoings. It can feel as even though you are making payments to your creditors each month, that the actual amount you are paying is not going down - This is where a Debt Consolidation Loan can work for you.
If you think that debt consolidation is right for you then you need to get in touch. We will search the market and find you a debt consolidation loan which will suit your financial circumstances.
Debt Consolidation allows you to make a new start with your finances, as you will be transferring any existing creditor commitments to one single debt consolidation loan payment.
The process is just like applying for any type of loan, as effectively you will be getting one bigger loan to pay off all your unsecured debts. Although this may seem like a long process, it does have some real advantages for you, such as benefiting from a reduced interest rate and being able to make just one monthly payment.
With a Debt Consolidation Loan you only have one payment to make each month to your debt, which means you should be able to plan your outgoings much more easily. Once you have paid off your debt consolidation loan you will become debt free, as long as you make sure that you cut up your credit cards that you consolidated in the first place!
If you are looking for help managing your current debts then you will be glad to know that there are other consolidation alternatives out there.
A debt consolidation loan is usually secured against your home, so Debt Consolidation would never advise that you get this type of loan if you are having severe financial difficulties, but we do have a range of debt solutions which could help.
Both a Debt Management Plan and an IVA are debt repayment schemes where we negotiate with your creditors to reduce your monthly payments. Both are available to insolvent debtors, but only an IVA could write off your unaffordable debt!
If you are having financial difficulties then you need to seek expert advice. Debt Consolidation are experts in our field and can offer you the best advice and find a solution that will suit your circumstances.
Our advisors are available to offer you free guidance on debt consolidation, so please contact us today on 0808 131 0037.
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.