Debt Consolidation Loans
A Consolidation Loan moves all unsecured debt into one affordable monthly payment.
Consolidation Loan Requirements
- Your debts are in excess of £10,000 or,
- Debts consist of a minimum £10,000 lump sum payment
- You have a minimum of 3 different Creditors
- You are in financial difficulty and need a Consolidation Loan
- You are Aged 18-75
UK Debt Consolidation Loans are either large secured loans (secured against the individual’s house which is used as an assest) OR unsecured loans (for Tenants and other UK non Homeowners) which repays ALL creditors.
This results in leaving the individual with just one creditor and one affordable monthly payment.
Pros and Cons of a Debt Consolidation Loan:
— Consolidation : Against
- Consolidation loans may increase your total debt repayments more than other solutions available
- There may be additional ‘setting up’ costs.
- Secured Consolidation Loans use your house as an assest - your home may be at risk.
- Unsecured Consolidation Loans can be much more expensive than secured Consolidation Loans - as there are no assets as security for the Lender.
- As you only have one creditor, future negotiation (should you struggle with repayments) may be difficult.
- If the Consolidation Loan fail, you can still be forced to take Bankruptcy.
+ Consolidation : For
- Reduces monthly payments.
- Removes pressure of dealing with multiple creditors
- Only making one monthly payment.
- Rescues credit rating by repaying other loans/HP/Store cards etc.
› Look up Consolidation Loans on the
Comparison Chart
Complete form top left, or call 0870 112 6234 — speak to trained Debt Counsellors ending Money worries TODAY
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on a mortgage or any other debts secured on it.
Written quotations on request.
MDJ & Partners Ltd, Bluebell Barn, Long Lane, Banham, Norfolk. NR16 2DF
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MDJ & Partners Ltd do not issue Debt solutions nor lend monies.
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