DEBT CONSOLIDATION
WHAT IS DEBT CONSOLIDATION?
If your debts are out of control, debt consolidation loan could dramatically reduce your monthly debt repayments. Paying off your credit cards, store cards, overdrafts and other high-interest debts, it could simplify your finances and make your monthly repayments affordable again.
ADVANTAGES OF DEBT CONSOLIDATION
· Lower payments - arrange a repayment term that suits you.
· Lower interest - pay off your high-interest debts.
· Simpler finances - make just one payment per month.
· Greater control - know exactly what you owe and when you'll be debt free.
· Owing multiple creditors isn't just awkward. The more debts you have, the harder it is to keep track and the more likely you are to forget one, incurring penalty charges and damaging your credit rating.
· Debt consolidation can be simpler and safer, as well as reducing your monthly outgoings.
DISADVANTAGES OF DEBT CONSOLIDATION
· The biggest downside of a Debt Consolidation Loan is that it is secured against your assets, usually your home. If you are struggling to meet your repayments then you don't really want to take out a further loan and risk your home being repossessed.
FULL & FINAL SETTLEMENTS
We can arrange full & final settlements for our debt management clients. We can negotiate where possible with your creditors and settle the debt for a lower amount than you originally owed. Your creditors would rather accept a lump sum payment offer than reduced payments over a longer period of time. The discount we negotiate with your creditors can vary depending on the lump sum of money you have at your disposal. Using our knowledge, expertise and relationship with creditors we have saved over the years thousands of pounds for our clients.
ADVANTAGES
· A substantial savings can be made on the original debt, from 60% to 80% can be written off.
· Any adverse records on your credit file i.e. Defaults; County Court Judgements will be marked as settled or satisfied.