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STARTGet Help Today
Making an enquiry is the first step to becoming debt free. Don't forget we can help you:
- Consolidate you debt into one
- Reduce your monthly outgoings by upto 40%
- Stop interest and charges
- Stop creditor hassle
- In some cases write upto 75% off your debt
- Become debt free within 60 months
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Please call us on 08000 122 118 for free, no obligation help & advice.
Debt consolidation is used to describe the action of using one form of credit, to settle some, or all of your existing debt. In most cases, debt consolidation comes in the form of a loan, but in some cases, facilities such as overdrafts, credit cards, or equity release can be used to consolidate debts.
- Manage all your debts in one easy payment.
- Benefit from lower interest rates
- Lower your overall credit repayments
- Fixed duration, so you can keep track of exactly when your debt will be paid
Why Consolidate Your Debt?
It is a very common situation, where the number of repayments that have to be made to numerous creditors becomes unmanageable. Harsh late payment charges and interest can lead to the spiral of debt becoming unaffordable. As such, it can seem logical to seek a single form of credit, so you only have to keep track of one payment. In particular, credit card interest rates are extremely high, so debt consolidation offers the possibility of benefiting from more competitive interest rates. Often therefore, monthly repayments will be reduced.
Before consolidating your debts, you must make sure you are able to meet the proposed repayments. If you cannot keep up with them, you will face chasing letters from the creditor, and in a lot of cases, court action. In a debt management plan, or an IVA, our trained advisors can help prevent this.