Debt Consolidation

An unsecured Debt consolidation loan combines your existing debts. This should make your debts easier to manage. As only one monthly payment is required there is a reduced likelyhood of missing payments which can affect your credit score. This assumes that the new loan will be sufficient to repay all other unsecured debts. Any payments to debts that are not repaid by the new loan will still need to be serviced by the customer. Typically a consolidation loan will reduce your monthly repayments meaning that your have more money to spend on the things that you enjoy. This can often be all that is needed to put an end to the stress-inducing demands made by nagging creditors. It is worth noting that using an unsecured loan to consolidate debts will usually lead to an increase in the total amount of debt to be repaid. APR on a debt consolidation loan is 12.9% typical*.

Having this single, consolidated debt can improve your financial situation in a variety of ways:

• Single monthly payment replaces multiple monthly payments
• Lower, more affordable monthly payment amount
• Reduced and sometimes frozen interest rates
• Single point of contact
• More easily managed debt

We will find out more about your circumstances, your income and expenditure, and make sure your monthly debt repayment is more affordable than the payments to your various unconsolidated debts. 

Rather than facing multiple payments throughout the month, with debt consolidation we will only ask you to make one payment every month.

Through debt consolidation you will only have one monthly payment date to meet, therefore reducing the risk of late payment charges.

Rather than the hassle of contacting a variety of creditors ever month, with debt consolidation you will use us as your one point of contact, with our advisors always on hand to help and advise.

We aren’t here to judge you - we’re here to help with your debts.  Through the process of debt consolidation we will deal with all your individual creditors on your behalf, often negotiating lower rates, and sometimes even waived charges along the way. 

Through debt consolidation you can transfer much of the worry and stress onto our shoulders, easing the debt pressure on you.  We want you to be in control your debts, and not the other way round. 

• We will check that you are suited to a debt consolidation loan with analysis from our experienced advisors.
• We will check all your incomings and outgoings, check how much you require, and introduce you to a finance broker who can look to arrange a loan plan which is affordable and fair.
• Make your debts easier to manage.
• Less creditors to hassle you with letters and calls.

• One payment each month.
• no additional marks against your credit score if repayments are not met.
• Reduced likelihood of missed payments.

An unsecured Debt Consolidation loan can be a highly effective way to sort out your debts, but it's not easy to get. Typically loans are between £1000 and £5000, typically, lenders consider these amounts less risky than larger amounts where the loan is not secured against property or other assets. Anything over these amounts are rarely lent on an unsecured basis unless you have a clear credit history, and unfortunately applying for loans can be detrimental to this score. If you have a less than perfect credit score then it can be very difficult to get a loan, even for between these amounts even if your home is used to secure the borrowing. At countrywidefinancialservices.co.uk we will let you know through our own analysis whether you are suited to a loan, or any other solution we offer. Loans are arranged via a third party finance broker that we can refer you to.