We understand that sometimes you may get yourself into a situation juggling credit card bills and the like. Stop juggling all those hire purchases, loan,and credit card repayments and roll your debts into one easy-to-manage payment with a debt consolidation loan. With a debt consolidation loan you can simply take out one single loan to pay off several others.
What is debt consolidation?
Debt consolidation works by combining all of your debt into one simple loan. Instead of paying many different loan amounts plus varying interest rates at different times, you will pay one financial organisation one loan.
Applying for a debt consolidation loan
Applying for a debt consolidation loan will requires gathering the details of your various loans and consolidation it into one package for a lender. This service is free as we are paid by the lender. We then submit the deal various lenders we work with and help you pick the one that is best for you. Our service is totally transparent. Once the application has been received a credit check is completed, and the application is assessed.
If the loan is approved, you will be able to accept and agree and electronically or physically sign the personal loan contract. The loan is usually paid out on the same day directly to the third party organisations to make it as easy as possible for you. It’s as simple as that.
When does debt consolidation work well?
If you understand how debt consolidation programs work then you know the key is to use them to your advantage. Debt consolidation programs work if you can change your spending habits. The main reason a debt consolidation loan has happened is that you may have has lived beyond your means. Whatever the situation, we are confident we can help you restructure it.
Once the debt consolidation loan is in place, we can then work with you to structure your account and continually help improve your credit score.
Why consolidate your debt?
Debt consolidation is when you take multiple loan, credit card and/or hire purchase payments, and combine them into one easy to manage loan. We recommend you use a debt consolidation loan to pay off the others in one hit so that instead of keeping track of lots of individual debt repayments, you only have the one payment. This is usually at a lower interest rate so that overall you save money and clear your debt faster. It’s a great way to help you get on top of your finances.
What is debt consolidation? Debt consolidation works by combining all of the borrower’s debt into one simple loan. Instead of paying many organisations different amounts plus varying interest rates the borrower will pay one financial organisation. Applying for a debt consolidation loan Applying for a debt consolidation loan will require the borrower to complete an
Are debt consolidation loans bad for your credit score?
When a person applies for credit, it will show the amount and who the financial provider is on their credit file, even if the loan is approved or declined. If the person is declined from various financial providers, it will list all of the providers the person has applied too but not that it has been approved or declined. However if the loan is approved and you can keep to those weekly fortnightly or monthly payments, then this could improve your credit score as it will show improving credit history.
We work with a number of lender to ensure we can get you the best rates and fees, and can even negotiate the establishment fee that some lenders charge. To find our more, please apply online or give us a call.