What is a debt consolidation loan?

Relieve financial stress​


        
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Take away the anxiety of mounting debt

When you combine all your worries into one easily paid loan, you can focus less on balancing all your finances and enjoy your life again.

 

What is a Debt Consolidation loan?

what is debt consolidation?

Debt consolidation works by gathering all your existing financial obligations and rolling them into one easy to manage loan usually with more favourable terms. When you merge your financial obligations, you don’t have to worry about paying different creditors throughout the month. You will only have one repayment for all your existing obligations.

If you find yourself struggling with personal loan repayments and/or your credit card bills piling up, managing all this can be incredibly stressful, especially on top of mortgage repayments, utility bills, credit card payments, medical bills, and business debt to deal with. 

When you combine all your worries into one easily paid loan, you can focus less on balancing all your finances and enjoy your life again.

Debt Consolidation loan services we offer

Easy repayments

Easy repayments

Simplify your finances and give yourself the financial breathing space to get back on track. Condense your debt into one, easy to manage monthly payment. Reduce your stress levels and regain financial control.

Save money

Save money

When you roll your repayments into one simple loan, you can reduce your interest rates from credit cards and high-interest loans. You can also prevent late fees and early payout fees.

Control your budget with one payment variable. Focusing on a single repayment is much less complicated than handling personal loan payments, mortgages and credit card bills.

Stay in control of your finances

Control your budget with one payment variable. Focusing on a single repayment is much less complicated than handling personal loan payments, mortgages and credit card bills.

Avoid arrears

Avoid going into arrears

There is the dread of having someone ask you to pay what you owe when you know that you just don’t have enough to do so. A debt consolidation loan can help you avoid going into arrears.

Consolidate your debt in three easy steps

What is a Debt Consolidation loan? FAQ's

In order to determine your eligibility for a Debt Consolidation loan, we have a simple enquiry form that we ask you to complete (literally takes seconds) and then we will call you to discuss specific details about your income and your current financial obligations. Because everyone is different we want to get to know your unique set of circumstances. This form is a “soft” enquiry, meaning application has no impact on your credit score.

A Debt Consolidation loan that combines your existing, often unmanageable, credit obligations. These are typically used by people who have multiple forms of debt with a range of fees and interest rates, and repayment dates all over the place. Merging these into a single Debt Consolidation loan often results in a lower overall interest rate. This makes budgeting or future financial planning a more achievable task.

Generally speaking, the types of debt that would be eligible for a Debt Consolidation loan would include multiple credit cards, car finance and personal loans, but could also cover things like medical bills and school fees for example. The goal of a Debt Consolidation loan is to simplify your bills and make your household budgeting much simpler moving forward. It also makes it easy to track your debt repayment progress until you are debt free.

Paying off credit cards, car finance and other personal loans with a Debt Consolidation loan tends to be a positive move for your credit score. When you combine your loans into one, it shows as paying off your multiple loans.

You must stick to your debt consolidation loan repayments (which is generally easier that juggling multiple debts, because loans are tailored to each applicant. A payment schedule is based upon what is achievable in your income. If you aren’t responsible for meeting your repayments, it can reflect negatively on your credit history. However, if you follow the Debt Consolidation loan plan, this won’t negatively affect your credit.

Debt Consolidation loan resources