Debt Consolidation Loans Online
Get a loan today… paid out by *
✓ 100% Free Quote
✓ Instant Decision
✓ Secure Application
Representative 277.5% APR Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
Worried about your bad credit score every time you apply for a loan?
Worry no more! Because you can now apply for a debt consolidation loan wherein you can repay all your debts and combine them into monthly installments at an affordable rate. In this way, you can now repay the lenders you owe at the earliest time and you can now focus on repaying only one lender. This is highly recommended for those who are struggling to repay their debts one by one.
If you’re thinking about your credit history, then don’t worry about it as it shouldn’t be a problem when you apply for a debt consolidation loan. So whether you have a good or bad credit score, you can still be considered for a loan.
When you borrow money to consolidate a debt, you’ll be able to get an equal amount to your debts or could be higher than that. This will be used to repay your existing loans from your lenders by focusing only on one monthly repayment schedule instead of paying different lenders at a time.
By this process, you’ll only pay the lender who lends you the debt consolidation loan with a lower interest rate and one debt to repay. The goal of the debt consolidation loan is to make things easier for you to manage your finances and repay all your debts so you don’t have to think of paying different lenders every time and paying different interest rates.
How much can I borrow?
You can apply for a debt consolidation loan and get a total of £5000 and over. It will also depend on your credibility, credit score, and the lender you will choose if how much loan they will give you and how much loan you can afford to repay. Since it has a higher APR and you have to repay them until your paycheck so you have to make sure that you can pay back the loan.
What about bad credit?
Having a bad credit score is not a barrier if you want to apply for a debt consolidation loan. Direct lenders are very considerate and there’s nothing wrong if you’ll give it a try. You just have to fill up the loan application form, tell us more about yourself, and once you get approved you can receive the funds in the next few hours.
How do they work?
Getting a debt consolidation loan could be the best solution to pay all your debts into one single repayment schedule. However, we have advisors that you can talk to and guide you all throughout your loan application if this type of loan will suit your financial needs and help you solve your financial issues. Let’s say that you have a stable source of income, can repay on time, and resident where your lender is located. Then you can now choose if you’ll either apply for a secured loan or the unsecured loan.
What is the difference between a secured and unsecured loan?
Unsecured loans are offered at a higher rate compared to secured loans. Moreover, the advisor will tell you whether this is the best option for you, and if so they will do their best to look for the best deal that will suit your financial needs.
Before you get any of these loans; secured and unsecured loans, you need to have at least some idea of what kind of loan these are. If you have bad credit, then you may opt for a secured loan and get an offer of a lower interest rate. But, if you failed to repay the loan, the collateral you offered in exchange for your loan will be at risk or could be possessed by the lender.
Can a debt consolidation loan help me?
If you’re one of those who are struggling with repayments to different creditors, then maybe you already know how frustrating it can be. Managing repayments to each lender could be very difficult because you have to make sure that you get to pay them all on time. Sometimes, it’s quite impossible to repay them all at the same time especially if your budget permits you to do so.
This is the time where you realise that you need a consolidation loan. Instead of getting frustrated to pay your creditors, you can now easily pay them all at once and settle all your debts. While in debt consolidation, you’ll have to repay only one lender every month with a lower interest rate compared to paying different lenders with different interest rates which could put you into deeper debt.
A guarantor is not required when you apply for a debt consolidation loan but it is possible if you want
Some lenders may require a guarantor especially if you have a bad credit history, but with us, it is not required. If you don’t have a guarantor then we will do our best to look for a lender who offers a debt consolidation loan with no guarantor. But if you want to add security to your loan by providing a guarantor then it’s fine. Whatever choice you have, we’ll look for the best deals for your debt consolidation. For more information about our policy for guarantors, you may check it here
What kind of debts can I repay?
Well, you can use them to pay all your unsecured debts such as credit cards, personal loans, payday loans, and other debts you may have.
If you have a poor credit score, then you’re probably struggling with your finances and it seems like there’s no chance for you to get another loan again. But, with the help of a debt consolidation loan, you can save yourself from having a bad credit score and get a chance to improve your rating by repaying all your debts. It will also help you improve your credit score and get a chance to get the best deals from other lenders in your next loan application.
So, whether you have a poor credit score or a good one, we will still help you get the best offers as much as possible. We’d love to help you settle your debts and be stress-free with your repayment schedule.