DEBT CONSOLIDATION LOANS

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Are you tired of juggling monthly outgoings, or perhaps you're struggling with payments to more than one lender? A debt consolidation loan could help. Often managing a large number of different debts to different lenders and all at different rates can be hard to keep track of. Credit cards, various loans and personal debts all incur different interest rates, amounts and payment dates, and you may be paying some high rates on some of these debts. Consolidation Loans help many thousands of people manage their money better by grouping together these existing debts, and reducing their monthly payments. So by getting a consolidation loan, the individual pays back existing debts and then is left with just one low interest monthly payment to make. Which Way to Pay gives you all the information you need to make a considered decision when applying for debt consolidation loans, and once you find one to suit, you can even apply directly from this page.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

PROVIDERTYPE

TYPE

Lender / Broker

APR

APR

A Representative APR is a financial service concept in which interest rates quoted through advertising media is required to take into account all charges associated with a product, in addition to the interest rate

LOAN AMOUNT

LOAN AMOUNT

Total amount you can borrow

MIN TERM

MIN TERM

Minimum loan duration

MAX TERM

MAX TERM

Maximum loan duration

FEATURES

FEATURES

List of features of loan

ID REQUIRED

ID REQUIRED

List of ID required to obtain a loan

SUITABLE

SUITABLE

Who the loan is suitable for

RESTRICTIONS

RESTRICTIONS

Restrictions regarding potential borrowers

MORE INFO

Save Simply Consolidation Loans
Save Simply Consolidation Loans

Broker6%
Representative Example

Representative Example

If you took a loan for £10,000 with a Representative APR of 6.9% fixed and an annual interest rate of 6.9% you would pay £196.56 per month with a total charge for the credit of £1,793.43 making the total amount you repay of £11,793.43 Representative APR of 6.9%

£500.00 - £25,000.0012 Months25 yearsFeatures

Features

Credit Check: Yes
Instant Decision: No
Online Application: Yes
Secured Loan: No
Unsecured Loan: Yes
Mobile Loan: No
Debit Card: No
Bank Account: Yes
Repayable:
Extention: Not permitted

Identification

Identification

Name, address, telephone number and more

Suitable For

Suitable For

Restrictions

Restrictions

Save Simply Consolidation Loans
Save Simply specialise in loans for any purpose from £500 - £25,000. Apply online and receive free, no obligation advice which is 100% secure and confidential. Save Simply work with some of the Top lenders and boast all applications are accepted. Consolidation loans can be expensive. Before you apply for a debt consolidation loan consider your options and please make sure that you read the terms and conditions carefully to ensure that you fully understand your financial obligations and how the loan works. DETAIL INFORMATION >>Terms

Terms

The Partners will contact you with loan information. Please note that such information should not be used as the sole basis for your loan decision, and may not meet your particular needs.


Advantages

Advantages

1. Lots of lenders sourced
2. Poor credit borrowers considered


Disadvantages

Disadvantages

1. APR not stated - must apply to receive APR %
2. APR may be high

The Consolidation Loan Locator
The Consolidation Loan Locator

Broker53.9%
Representative Example

Representative Example

At 53.9% APR fixed, £3,000 borrowed over 36 months payments would be approximately £151.19 per month. The total amount to be repaid would be £5,442.84. Representative APR 53.9%

£50 - £25000Dependent on lenderDependent on lenderFeatures

Features

Credit Check: Yes
Instant Decision: No
Online Application: Yes
Secured Loan: Yes
Unsecured Loan: Yes
Mobile Loan: No
Debit Card: No
Bank Account: Yes
Repayable: Varies
Extention: Not permitted

Identification

Identification

Initially residential status and employment status

Suitable For

Suitable For

If you have bad credit

Restrictions

Restrictions

You must be a UK resident

The Consolidation Loan Locator
The Loan Locator specialise in providing you with a consolidation loan of up to £25,000 in order for you to consolidate your loans, purchase a car, take a holiday or whatever you fancy. It doesn’t matter if you have been refused or declined a loan before, you could be approved for a one of The Loan Locator loans within 48 hours. Before you apply for a debt consolidation loan consider your options and please make sure that you read the terms and conditions carefully to ensure that you fully understand your financial obligations and how the loan works. DETAIL INFORMATION >>Terms

Terms

Must be at least 18 years old to apply


Advantages

Advantages

1. No obligations quotation.
2. Get approved even if you have bad credit.
3. Borrow up to £25,000
4. Loan can be used for any purpose.


Disadvantages

Disadvantages

1. You have to apply to obtain fees and charges
2. You have to apply to view terms and conditions

The Finance Facility
The Finance Facility

Broker19.6%
Representative Example

Representative Example

Total Amount of Credit: £5000; Representative APR: 19.6%; Duration of Agreement: 60 months; Total Charge of Credit: £2881.60; Total Amount Payable: £7881.60 Address: The Finance Facility, Netherley Road, Prescot, Merseyside, L35 1RG

£500.00 - £100,000.0012 Months60 MonthsFeatures

Features

Credit Check: Yes
Instant Decision: No
Online Application: Yes
Secured Loan: Yes
Unsecured Loan: No
Mobile Loan: No
Debit Card: No
Bank Account: Yes
Repayable:
Extention: Not permitted

Identification

Identification

Initially personal and contact detais.

Suitable For

Suitable For

All borrowers - even with bad credit history, been refused elsewhere, those with arrears and defaults and those who been blacklisted or have CCJs.

Restrictions

Restrictions

You must be a resident of the UK to apply

The Finance Facility
Apply online and you could receive a loan of between £1000 and £100,000 for lots of different purposes. The Finance Facility has a primary objective, which is to provide you with a service that is second to none. They search all the bad credit loans on their database to find the best one suited to your needs. Before you apply for a debt consolidation loan consider your options and please make sure that you read the terms and conditions carefully to ensure that you fully understand your financial obligations and how the loan works. DETAIL INFORMATION >>Terms

Terms

You must be employment and aged 18 to 65 years


Advantages

Advantages

1. Simple online application
2. No upfront fees
3. No multiple credit checks
4. Search over 200 lenders for you.
5. Fast, easy & secure


Disadvantages

Disadvantages

1. Fee of £59.95.
2. You can not obtain the fees and charges until you have applied.

Trapped.co.uk Consolidation Loans
Trapped.co.uk Consolidation Loans

BrokerN/A
Representative Example

Representative Example

Not available

Ask on applicationAsk on applicationFeatures

Features

Credit Check: Yes
Instant Decision: No
Online Application: Yes
Secured Loan: No
Unsecured Loan: Yes
Mobile Loan: No
Debit Card: No
Bank Account: Yes
Repayable:
Extention: Not permitted

Identification

Identification

You will be contacted by a debt advisor from our panel after your search.

Suitable For

Suitable For

Debt management advice

Restrictions

Restrictions

Trapped.co.uk Consolidation Loans
Apply online and find out if a consolidation loan is the best option available to you. Trapped.co.uk will explain all the options available to help set up a debt solution that is right for you. Use their free online tool to help you analyse your debt and review the options to help you get out of debt. Before you apply for a debt consolidation loan consider your options and please make sure that you read the terms and conditions carefully to ensure that you fully understand your financial obligations and how the loan works. IVAs are serious financial products. DETAIL INFORMATION >>Terms

Terms


Advantages

Advantages

1. They will suggest the most suitable debt solution for you based on your current debt and personal details
2. They will analyse your debt, income and personal situation to work out which debt solution might be best for you
3. Clear advice on how to set up your solution


Disadvantages

Disadvantages

1. You cannot obtain the fees and charges until you have applied.
2. A consolidation loan may not be the most suitable option available to you.

Self Serve Consolidation Loans
Self Serve Consolidation Loans

Broker9.5%
Representative Example

Representative Example

Rates from 9.5% to 29.9%. 13.7% APR Typical Variable

£5,000.00 - £100,000.003 years30 yearsFeatures

Features

Credit Check: Yes
Instant Decision: No
Online Application: Yes
Secured Loan: Yes
Unsecured Loan: No
Mobile Loan: No
Debit Card: No
Bank Account: Yes
Repayable:
Extention: Not permitted

Identification

Identification

Initally personal, residential and finacial details

Suitable For

Suitable For

For indiviuals looking for a secured or unsecured loan with all credit backgrounds

Restrictions

Restrictions

Please make sure you fit the following criteria:
1. You own and live in your own property and pay a mortgage
2. Your property is not semi-commercial or jointly owned with a Housing Association
3. Your property is located in England, Wales or Scotland

Self Serve Consolidation Loans
We are one of the largest loan brokers in the UK; we have access to a wide panel of lenders and have exclusive deals with some of them. All of our loans are exclusive to homeowners and can be used for almost any purpose. Our online process is easy to use and has some real benefits for our customers. Before you apply for a debt consolidation loan consider your options and please make sure that you read the terms and conditions carefully to ensure that you fully understand your financial obligations and how the loan works. DETAIL INFORMATION >>Terms

Terms

See website for details


Advantages

Advantages

1. Self Serve Loans has a “soft search” functionality, helping users to get a much clearer picture of the products available to them and their circumstances and removing the footprint risk involved when applying for credit.
2. Self Serve Loans offer secured and unsecured loans to people with all types of finance history and show upfront who the loan will be with and how much they will pay.
 
 
Our online process is easy to use and has some real benefits for our customers:
 
1. You'll see accurate loan offers based on your individual circumstances and credit history
2. You can see the loans you qualify for before you apply
3. Because searching online is cheaper for us...it's cheaper for you!


Disadvantages

Disadvantages

1. If you are thinking of consolidating existing borrowing you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.
2. 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 DEBT SECURED ON IT.

If you wish to speak to someone: Contact Us or Enquiry Line: +44 (0) 207 386 5300

Compare Consolidation Loans

Consolidation Loans can help you get out of debt but before you take one out make sure you know the pros and cons.

Struggling to get out of a debt situation?

If you are currently in a difficult situation with your finances and have multiple creditors hassling you for money, it can be a worrying time. Don’t worry you are not alone as there are thousands of people in the UK who are experiencing a debt problem. The important thing is to take action as soon as possible because the situation will only get worse if you ignore it.

There are a wide range of options that you can consider and one of them is a consolidation loan. A debt consolidation loan can reduce your debt to one manageable monthly payment. By reducing your outgoings this can make a real different to your monthly finances.

Can a Consolidation Loan help?

Consolidation loans are suited to those who are struggling with multiple debts because a consolidation loan brings together all your expensive debts into a single more affordable and manageable monthly payment. These loans should work out more affordable because they usually come with a lower interest rate than the average interest rate on all you existing debt combines but this is not always the case. You could also reduce your monthly outgoings by repaying the loan over a longer period of time.

Consolidation loans can also be used to help improve your credit rating if you are able to pay off the loan and accrue no further debt.

What are the risks?

While consolidation loans can help to simplify the way you manage your debts, ultimately it will not reduce what you owe. Furthermore, the longer you take to repay the loan, the more interest you will pay overall. With this in mind consolidation loans can end up costing you more overall.

Some would argue that you should not take out another loan on top of what you already owe because there is more of a risk of ending up in more debt. However, if you are looking for a way to reduce your monthly payments and help you manage and budget your expenses more effectively then a consolidation loan may be the right debt solution for you.

Is a Consolidation Loan right for you?

Remember that a consolidation loan requires commitment and you need to be sure you will be able to make the repayments. Take the time to find the right loan for you which you can do using the table above. Make sure you compare the different interest rates but also look at the other loan features. You should always read the small print and make sure you understand what happens if you miss payments.

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Do you have multiple credit cards or loans from different providers? Do you find it hard to keep up with the financial commitment and administration? You may be able to reduce the stress of managing your finances and possibly even save money by taking out a consolidation loan.

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