Unsecured Loan Debt Consolidation

Debt Consolidation Loan

If you’re looking to borrow in order to pay off other debts it can help to organise things for you. Even more so it can help you to pay bills and living expenses but if you've been declined a loan it's probably wise to stop applying. They're other ways to consolidate.

Weigh Up Your Options

To avoid getting deeper into debt to consolidate the rest of your debts, there're non borrowing options available to you. These consist of schemes that allow you to consolidate all your debts into one monthly payment without the need of borrowing.

Bad Credit Debt Consolidation

If you’ve got bad credit and been turned down for a loan, it could be a good opportunity for you to check your current credit file. If you've got debts you’re currently struggling to repay, you should contact your creditors sooner rather than later and avoid charges.

Help With Personal Debt Consolidation

Consolidating personal debt can be a good option if your’e looking to only have one monthly payment. If you’ve been turned down for a credit card or loan there are steps you can take to understand why. There are also things you should avoid doing which could make it even harder for you to get credit in the future.  If you have been refused a loan or turned down for a credit card, the worst thing you can do is to keep applying as it affects your credit. Any credit applications you make – successful or not – will show up on your credit file. Finding the right debt consolidation programme or company will depend on your circumstances, and getting a realistic outcome to solve your debts.

Best Ways To Consolidate Debt

Debt Consolidation Loan

When you take out a debt consolidation loan, you’re not really paying any debt off. Instead, you’re just moving it around in a way that makes it easier to pay. Shuffling debt could cost more money, take more time, or put your future at risk. Also you could end up going round in one big circle.

Non Borrowing Debt Consolidation

Consolidating debt without the need of getting into further debt can be the answer to many people who want a large consolidation loan aren’t going to get it, no matter who they apply to. Don’t wait until things get totally out of hand. Take action as soon as you see a problem developing, and get some advice on the situation.

Find Out If You Qualify To Wipe Of Any Of The Debt

 There’re schemes that might help to get a percentage of the debt written if you qualify for government legislation. If there isn’t a repayment arrangement the water company can issue a county court claim to try to make the money owed repaid back. Again if you are unsure about anything or concerned we are here to give you the help you need. Find Out More

Find Solution To Deal With Debt

Free Debt Management Plan (DMP)

Debt Management Plans are available across the UK. So regardless of where you live in the UK, if you’re struggling to keep up with payments to your debts. Also a DMP could help you to get your financial situation back on track.

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Individual Voluntary Arrangement (IVA)

An Individual Voluntary Arrangement (IVA) is an agreement with your creditors to pay all or part of your debts. You can agree to make regular payments to an insolvency practitioner, who will divide this money between your creditors as well as clear any remaining debt at the end of IVA.

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Debt Relief Order (DRO)

A debt relief order can be a low cost alternative to bankruptcy, but is only available to certain people as a criteria. If you owe than £20,000 and live in England, Wales or Northern Ireland then there is a chance you qualify. You don’t pay anything towards your debts for 12 months and the debt is written off after this too.

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Protected Trust Deed

A trust deed is a legally binding arrangement in Scotland where you make reduced payments over 4 years. Also at the end of this your unsecured debts are usually written off, and your debt show as paid.

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