How to Consolidate Debt (The overall cost for comparison is APR 14.5% typical variable.)

Consolidating debt means that you combine your debt into one single payment. If you find it a struggle to keep on top of your multiple debts or you find you run out of money for certain payment-due dates, then debt consolidation could be the right solution for you.

How to Consolidate Debt

There are a number of ways of how to consolidate debt, and the right consolidation solution for you should be based on your personal financial circumstances, such as your income and your current level of unsecured debt.

Debt Consolidate can offer you a number of ways of how to consolidate debt which could make your payments more affordable to you and potentially lower your rate of interest. The most common ways to consolidate debt are a debt consolidation loan, secured loan or remortgage, but there are ways which you can consolidate debt without the need for any further borrowing.

The best way to find out which consolidation solution is right for you is to get in touch with one of our expert advisors, as they will help you decide how to consolidate debt to your advantage.

Debt Consolidation Benefits

If your monthly repayments are increasing and you are struggling to make them, consolidation of your debt could be the best solution to your financial affairs. Not only can debt consolidation offer you one monthly payment, but it may also reduce the amount of interest that you pay.

Debt Consolidation Loans are often secured against your home, meaning that lenders are often willing to offer a much lower interest rate than store cards and credit cards.

As you are making one reduced payment this should leave you with cash to spare at the end of the month, which may alleviate the pressure on secured debts such as mortgage repayments or utility bills. 

For more information about how to consolidate debt, you need to get in touch. Our Debt Consolidate advisors can help find the right consolidation solution for your circumstances. Call today on 0800 0481 770.

LOANS MAY BE SECURED ON YOUR HOME. THINK CAREFULLY BEFORE SECURING DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

For mortgages and re-mortgages the overall cost for comparison is 8.5% APR variable and for secured loans 14.5% APR variable. The actual rate will depend upon your circumstances. Ask for a personalised illustration. A broker fee may be payable on completion, and will depend on your circumstances. For mortgages and re-mortgages this fee is typically between 0% and 3% of the gross mortgage amount, subject to a minimum of £2,495 and a maximum of £3,995. For secured loans, the fee is typically between 0% and 10% of the loan value.

DebtConsolidate.co.uk is a trading style of Ask Finance Ltd (Registered in England and Wales. Company number 4229724), a wholly owned company of the Harrington Brooks Group Ltd. Ask Finance Ltd is licensed under the 1974 Consumer Credit Act to carry on the business of consumer credit, consumer brokerage, debt adjusting and debt counselling. Consumer Credit License No: 507130. Ask Finance Ltd is authorised and regulated by the Financial Services Authority (FSA) - FSA No: 300490 - for the provision of mortgage advice and arranging insurance.