Debt Consolidation Loans.
Debt consolidation loans may be the answer to your debt problems and stress. A debt consolidation loan turns all your individual loans, credit cards and store cards into one loan and one monthly payment, possibly at a lower interest rate than you are currently paying.
- One monthly payment.
- Reduce the amount your paying each month.
- Reduce rates on high interest debts
- Makes your monthly budget easier.
- Does not affect your credit rating
- Adverse credit rating considered.
When considering debt consolidation it is important to consider the length of time the loans is for and the amount you will pay back. If you take a debt consolidation loan over a long period to reduce the monthly costs, the more in interest you will pay back. If you are a home owner and take out a secured debt consolidation loan it is important you think carefully before signing any agreement, as if, for whatever reason, in the future you cannot afford the monthly repayments your home will be at risk.
When considering a debt consolidation loan remember:
- What happens if I can't afford the monthly repayment
- If you have a bad credit history the loan you get may have a high interest rate, meaning you are no better off
- If you are paying off credit cards, can you manage without using the credit cards? Again, if not, you could end up worse off
- Loans maybe secured on your property.
Debt consolidation loans are just one of the solutions which are available to you and we believe before you decide on any debt solution you should get all the facts about each option. Phone us today for a chat and we can talk your through your options, ensuring you get the right solution for you.
We are not a loan company of loan introducers.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Loans subject to status and where mortgages are involved, subject also to type and value of property. DEBT CONSOLIDATION MAY INCREASE THE AMOUNT TO BE REPAID IN THE LONG TERM.