Personal Loan – Debt Consolidation Loans
In today’s world it is easy to get over your head in debt. The first signs are you’re not keeping up with your expenses, you’re living week to week, and you are finding it impossible to keep up. Eventually, your debts can consume you, making you hide from creditors and feel as though you’ll never find relief. There are options available if you’re in over your head and the most popular option is that of a debt consolidation loan.
What are Debt Consolidation Loans?
Debt consolidation loans combine all of your expenses and other credit obligations into one loan. With a debt consolidation loan you can consolidate debts and pay one payments and one interest rate. The process also simplifies paying off your debts since you only pay one creditor – rather than multiple.
Should I Get a Debt Consolidation Loan?
If you’re having trouble paying your bills and a large portion of your pay goes directly to paying your creditors, you should consider a debt consolidation loan. A debt consolidation loan can be helpful if you pay less each month by consolidating debts, you can free up money in your budget for emergencies or just to get back on your feet.
You should consider debt consolidation loans if:
- You need to lower your monthly payments;
- Your credit file is starting to be affected by your outstanding debts;
- You are finding it difficult dealing with multiple creditors.
Advantages of Debt Consolidation
Many choose to apply for debt consolidation loans to achieve -
- Lower monthly payment
- Streamline expenses – restructure your accounts and enjoy fewer creditors and bills to manage each month.
- Additional cash on hand – have more money left over each month.
What if I Have Bad Credit?
We understand that every consumer falls on hard times so whilst we do a credit check, a main focus on the assessment process is your capacity to repay the loan. Therefore you are eligible to apply for a debt consolidation loan if you have had a bad credit rating in the past.
Who should consider a Debt Consolidation Loan?
If you are finding your current level if debt stressful and unmanageable you may consider a debt consolidation loan. By using a debt consolidation loan you can combine all accumulated debt into a single loan, payment and interest rate. Debt consolidation loan’s simplify your monthly expenses and allow you to focus on paying one creditor and get out of debt faster. A debt consolidation loan takes away multiple accounts, automatic withdrawals from bank accounts, bills and varying due dates, you save time and the task of organizing your finances become easier as you are only dealing with one creditor.
We have assisted many people who needed to reduce their monthly outgoings, and have benefited greatly by taking out a debt consolidation loan. If you feel you would like to consider a debt consolidation loan with us then please give us a call, we are more than happy to discuss all your options. Or alternatively apply online today and one of our experienced consultants will be in contact to discuss the process with you.