Debt Consolidation Loan

Wrap them up into a single affordable repayment

We've all seen Carol Vordeman on the TV adverts for one of the loan companies. But is it really as easy as that? Is there a catch?

Why would you Consolidate your debts?

Sometimes we might suggest a consolidation loan for those with big debt problems. But it's not usually the first thing on our mind. Don't misunderstand us - they can be actually very easy to arrange and very profitable, but it's not always the best option.

Click here to see how easy it is to apply

The main advantage of a consolidation loan is just that instead of many repayments on different days, you just have one. Sometimes the repayment might be lower than you are currently paying, but only if:

• The new interest rate is lower than you had before; and/or
• You are paying back over a longer period of time

 

What are the downsides of a Consolidation Loan?

• You are usually borrowing even more than you owed in the first place.
• They are nearly always secured on your house. Effectively another mortgage.

No matter how you wrap it up, your debt is increasing and the amount of time you have to pay it back is getting longer and longer....and the interest is generally therefore more.

Can DCM help find me a Consolidation Loan if I have a bad credit rating?

Yes. And if a consolidation loan is not the best solution we'll tell you.

 

Is a debt consolidation loan the best option for YOU? Don't risk biased advice from lenders - ask us first.

Call now on 0800 011 2725

 

"YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER LOAN SECURED ON IT "