Debt Consolidation Loans

UK residents can apply online now for your FREE, NO OBLIGATION debt consolidation loans quote to see how our secured or unsecured loan brokers can help you consolidate debts, regardless of whether you are a uk homeowner or tenant.

Why debt consolidation loans?

In the UK, debt consolidation loans are the most popular type of loans for homeowners and tenants. With so much credit on offer from banks, credit cards, store cards, sofa finance, etc. it is no wonder that people find themselves with mounting debts and not enough money to pay them off. Because debts are often spread across different companies (e.g. £1500 from sofa finance company, £2000 from one credit card company, £3000 from a second credit card company, £000 from a personal loan) then the APR rates that each credit company offers you will usually be lower than if you combined all your debts into just one debt consolidation loan (i.e. a debt consolidation loan of £11000 would pay off the sofa company, both credit card companies and the personal loan and leave you with £500 to take a well deserved holiday whilst probably saving you money each month due to the lower APR rate).

With just one payment to remember, debt consolidation loans can help avoid bad credit history or rating since the chances of remembering (and affording) one payment are better than having to remember 4 or 5 or more repayments. And if you currently suffer from a poor credit history then debt consolidation loans can help rebuild your credit history, giving you piece of mind and help to rebuild your life.

Can I get a loan if I have bad credit rating or ccjs?

Most of our applicants have a bad credit rating or poor credit history of some form or another. In fact some homeowners and tenants with a very bad credit history, ccjs, bank or credit card defaults, rent arrears, mortgage arrears are still successful due to the range of bad credit loan companies our loan brokers deal with.

Criteria for a debt consolidation loan?

Each applicant is assessed for a debt consolidation loan on a case by case basic as everybody's circumstances are different. For example, homeowners are able to secure debt consolidation loans against their home (secured debt consolidation loans) whereas tenants are unable to do this and can only apply for unsecured debt consolidation loans. Your employment status and earnings income will be taken into consideration. Our debt consolodation loans brokers can consider employed, self employed (including self certification for the self employed with no accounts or proof of income), retired, on dss benefits and possibly unemployed people if their partner is not unemployed. Your credit rating will also be considered when applying for either a secured or unsecured debt consolidation loan and you will be credit searched at some point. In reality there is no such thing as a "no credit check loan". Some other loan companies will not always credit search your record at the initial loan enquiry stage and they may even provide you with a debt consolidation loan quote with a really low APR rate but until they have searched your credit record they cannot guarantee a loan rate and you may find your debt consoladation loan rate increases after a search has been performed. Please remember that having a very bad credit history alone does not mean that you cannot get a loan, even if you've been refused a loan before. Why not see if our debt consolidation loans brokers can help you, the application is FREE and you are under NO OBLIGATION to proceed with a loan. If you do not understand anything at anytime then please ask our brokers or the actual loan companies financing your debt consolidation loan. Consolidation loan application form