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If you owe money to multiple lenders, there's a good chance your finances are more complicated than they need be. So there's a good reason to get some expert help with your debts.
Making different payments to different lenders every month can give anyone a headache - and most people in that situation probably couldn't say exactly how much they still owe, let alone how long it'll take them to pay it all off.
The good news is, it doesn't have to stay that way. We can help.
Debt consolidation is a simple idea, but it can deliver serious benefits. Simplifying your finances, reducing your paperwork, cutting the time you spend setting up and changing direct debits and other transfers - debt consolidation can make your debts so much easier to stay on top of. It can save you money too.
Having said that, debt consolidation isn't always the answer. Depending on your financial circumstances, you may be better off with a different debt solution - a debt management plan, perhaps, or a remortgage.
If consolidation is the best way for you to tackle your debts, you should never use a loan to pay off debts without talking it through with an expert.
For free, no-obligation, confidential advice, call us on 0800 123 4567. Tell us where you stand with your finances and we'll help you explore your options.
Expert advice - the sooner, the better
Keeping up with multiple debts isn't just hard work - it's potentially dangerous too. The more payments you're 'juggling' on a monthly basis, the more likely you are to miss one sooner or later, and that can mean fines, higher interest rates, even damage to your credit rating that can make it harder and more expensive to get credit for the next six years of your life!
Consolidating your debts sooner, rather than later, could seriously reduce the risk of missing payments. How?
- First of all, it's just easier to remember just one payment.
- Second, it's easier to budget for - you'll know exactly how much you need to set aside from your monthly budget to make your payments.
- And third, your monthly payments could be lower: consolidating your debts gives you a chance to rethink your finances and figure out what you can realistically afford to repay every month without pushing your monthly budget too far.
Finally, consolidating your debts can save you money in the long run, as well as every month. Your new loan could come with a much lower interest rate (especially if you're consolidating high-interest debts like store cards) and lower interest rates mean your debt costs you less every month.
If that new interest rate is low enough, debt consolidation could shrink the total cost of repaying your debt as well as the cost of your monthly payments - although cutting your payments and the overall cost of your debt can be a bit of a balancing act.
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