Debt Consolidation Loans

Are you in need of the cheapest debt consolidation loans? Yes, we have a cheap loan lender that can help consolidate your debt situation.

For many consumers the trick of trying to manage paying your monthly household bills and keep yourself out of debt is a big problem. Whether it’s struggling to keep up monthly repayments on credit cards or a personal loan, many consumers face the prospect of getting into debt. Being in a bad financial situation is not a nice place to be and especially if you are in arrears on monthly repayments of on your credit card. Some people end up with County Court Judgements because of poor debt management. This can result in having a poor credit rating which will not help when it comes to applying for new ways of getting credit.

So what are debt consolidation loans?

Consolidating debt with debt consolidation loans is when your monthly debt problems are paid off with one payment from a loan. This will in turn leave the consumer with only one loan to pay offer. This is a great way for consumers to manage their debt situation and will stop any further interest being charged on their credit cards or loan and keep everything under control. Taking out a debt consolidation loan will allow you to pay off all your outstanding debt.

Many debt consolidation loans are secured on your property or some other form of asset. So you must manage your monthly repayments or your home could be sold to raise the money to repay back the loan to the lender. The loan repayment term can be spread over several years so you have time to payback the money.

How much can you borrow?

With most debt consolidation loan lenders they can offer you finance from between £100 and £25,000.

What are the rates of interest like?

Taking out a debt consolidation loan and managing your debt problems with a lower interest rate loan will save you much more money than you currently paying in interest charges on your debt, and is much better than using credit cards to manage your debt. Interest rates will vary from lender to lender but note that not all consumers will pay the advertised APR. Some consumers will end up paying a higher rate of interest. This depends on how much money you intend to borrow, your repayment term and your personal circumstances.

Can you still get a debt consolidation loan with bad credit?

Yes, bad credit consolidation loans are available for consumers, so don’t worry if you have ccjs or repayment arrear problems. Consumers with a poor credit rating can get help and apply for a debt consolidation loan from one of our cheap loan lenders.