For some people, debt consolidation (consolidating all existing debts into a single loan) can be a good idea. It depends on your level of debt, income and current repayments, but lower monthly repayments are often possible. However, consolidation may not be helpful if you have debts over £15,000 and are struggling to make repayments. That’s because taking on more financial responsibility is likely to make things worse, particularly if the loan is secured on a property. An IVA (Individual Voluntary Arrangement) may be the best choice in this case.
Our Best Advice Model will tell you whether or not debt consolidation is a good choice in your own situation. If it is genuinely the best debt solution, Debt Free Direct will search the market at no extra cost to you and find a loan that meets your needs.
Call us free on 0800 083 1433 to find out more.
Managing your debts
One of the advantages of a debt consolidation loan is that you only then have to worry about the one repayment rather than a number of repayments at different times of the month and varying interest rates. This can make things a lot easier to control. But you’ll also want to be sure about whether an IVA or Debt Management plan could be a better option for you. Call us to find out more.
One call is all it takes
The key thing about debt is to get on top of it fast. All you have to do is give us a call and one of our expert Debt Advisors will be able to provide you with impartial debt advice. This way you’ll know what debt solutions are available to you and whether debt consolidation is right for you.
Call us free on 0800 083 1433 Our phone lines are open 8:00 am and 9:00 pm Monday to Friday, or 9:00 am and 5:00 pm on Saturday and 10:00 am to 4:00 pm on Sunday. You can call free for an initial chat about your own debt situation.
