Debt Consolidation Loan

Depending on the purpose of the loan, we can look for possible options for you.
We specialise in helping people who have been declined a loan elsewhere

As debt is on the increase, many more lenders will now provide loans and mortgages to people who have credit problems, or who have had problems in the past. We will discuss your options and provide free, confidential and independent advice on receipt of your enquiry form.

Pros of a debt consolidation loan

• May be able to reduce your monthly payments.
• Can take off some of the pressure you may be under from your existing creditors.
• You will have only one creditor to deal with.

Cons of a debt consolidation loan

• Can pay more over a longer period.
• May incur additional costs for setting up the loan.
• If secured, your property may be at risk.
• You will be left with only one creditor - this can make it difficult to negotiate should you have further problems in repaying your loan.
• If the loans you are consolidating have all the interest added at the start you may in effect be paying interest twice. The interest charged for the first loan and the interest charged for the consolidation.

If you are considering a loan to consolidate your debt problems, or would just like more information, contact one of our advisors today on 08700 620 688 for a free quote.

You may also want to consider Debt Management

Abacus also offers a Debt Mangement Service. Debt Mangement can reduce your monthly bills by up to 75%, clearing all existing credit cards, loans and other debts by replacing them all with one single lower monthly payment.

Our advice is FREE, the call is FREE, and you are under no obligation whatsoever.

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