Debt Consolidation | London

Debt Consolidation is when a debt can be consolidated into one monthly payment by taking out a personal or secured loan or by remortgaging your property. The idea behind debt consolidation is that you use this loan to pay off all your other debts and are left with one monthly payment.

Debt consolidation is not usually advised for large debts as it can just put you into the same or even worse position. For large debts an IVA or Debt Management Plan may be your best solution. 

• Replace your various loan and credit card payments with one single monthly payment
• Reduce rates on high interest credit cards, store cards, overdrafts or loans
• It will be easier to manage with one affordable monthly payment
• Reduce your payments without affecting your credit rating
• Know exactly when your debts will be repaid with a fixed term loan