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Debt Consolidation - is it right for you?

Consolidating your debts and credit cards into one affordable payment can make sense but is it right for you.

You should consider all the options available to you carefully. By seeking advice from a Debt Advisor you can make sure that you take the right action to get yourself out of the debt you are in.
All you have to do is complete the enquiry form, an advisor will call you back and will give you help and advice. Remember their main aim is to find the best solutions for your own personal debt problems, they will not judge you in any way.

Broadly speaking, debt consolidation occurs where you take out a loan in order to pay off several existing debts.

A variety of credit products can be used in order to consolidate debts including:

an unsecured personal loan
a secured loan
the transfer of balances to a credit card
a remortgage

Points to consider before consolidating
Consolidation would mean that you would have just the one more affordable monthly payment to make rather than several unmanageable repayments to worry about.
However you should be aware that extending the period over which you repay your debt may mean that it will cost you more overall. The fact that a consolidation secured loan is secured on your property means that it may actually be your home that is at risk should you not be able to keep up repayments.

You may have more money available each month after your debt consolidation loan is arranged but you are still in just as much debt as before. Indeed you may even be deeper in debt if you have borrowed extra money as well. Borrowing more money to get out of a debt problem is not an option to be undertaken lightly. If you are taking out a debt consolidation loan you also need to make sure you are acting to rectify the true cause of your debt problem. A debt consolidation loan will appear to solve things by paying off the existing debts, but if bad spending habits continue, you may find that it's not long before you are back to square one.

If in doubt about the merits of debt consolidation, seek debt advice from our advisors, they will have be able to answer all your questions. They are aware of all the pro's and con's of debt consolidation and will be able to offer advice and information on your own personal debt situation.

FREE and Confidential Debt Counselling
Please use our Enquiry Form and a Debt Advisor will Call You Back. Tell us about your money problems. A Debt Advisor will review your debts, discuss your options and help you to decide on the best solution for you.

Debt Management Enquiry Form

All Questions marked * required
*Homeowner or tenant
*I live in the UK
*First Name
*Surname
*D.O.B
*Home Phone
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E-mail
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*Amount of debt £ (numbers only)
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Your Debt Management enquiry will be passed on to a qualified Debt Advisory Company

Subject to status. Conditions apply. Repaying debt over a longer period may increase the total amount to be repaid.
Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term. Fees payable.