What Is Debt Consolidation

When you have debt problems and owe money to a range of creditors, it often makes sense to consider consolidating that debt to one monthly payment.
Debt consolidation is when you take all your outstanding debts and consolidate them into one loan which has a lower interest rate and therefore lower monthly repayments than you are currently paying.

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You can take out either an unsecured debt consolidation loan, or a secured debt consolidation loan the unsecured option would normally mean you paying a higher interest rate than if you secure your debts against your home, but you do ensure that your home is not at risk.

A debt consolidation loan secured against your home needs careful consideration and there are further choices such as a re-mortgage of your home, Debt Management plan or IVA (Individual Voluntary Arrangement) and in extreme circumstances voluntary bankruptcy can be a viable option. It is essential with such wide ranging solutions that you get good independent advice from a company such as Credit Repair UK

Here at Credit Repair UK, our experienced advisors will guide you through the debt consolidation decision making process, offering you the best advice on which debt consolidation solution is right for you and then using our strategic partners and market experience to obtain the very best deal for you.  

Call  0845 6432954 now! or complete the
get help now form.

If you have CCJ's, defaults, late payments or a poor credit rating, or if you have been turned down for mortgages and loans in the past, we can still help you to organize a debt consolidation solution. Give us a call and be honest about any problems, the more we know about your situation the better placed we are to make the right recommendation.