Debt Consolidation Loans
We are all under pressure to buy more and pay later. It can cause major problems when our debts are out of control and are begining to take over all aspects of our lives. Debts build up for a number of reasons and are not all due to negligence or greed.
A marriage breakdown or other family problems can all cause debt and it may be that debt consolidation is something you are considering.
There are of course, plenty of people who can manage their debts and simply would like an easier way to pay them off by only having to remember one monthly payment instead of several. The internet is a good place to look for a debt consolidation product as it allows you to take your time and research the best deal for you. Your home or business will be used as collatoral against the debt and if you do not own a home you may need to seek a different way of borrowing such as a Tenant Loan.
An importanat thing to remember is that consolidating a debt does not make it dissapear.
Many people get into debt simply because they cannot afford to keep up their credit card payments and have also taken to using their credit cards to pay off their mortgage. This is a situation which clearly needs carefull managing.
There are companies as well as charitable organisations that will help with debt management. You will need to be honest about your situation and speak to your current lenders/bank. They will listen to any payment plans put forward and may be willing to offer a lower rate of interest for a period of time to allow you to pay off the debt rather than just the interest. No one wants to re-possess property and make families homeless.
This site is intended for UK residents only. Best UK Mortgages is a trading name of Grovelawn Limited.
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Registered Address: 98 Station Road, Sidcup, Kent, DA15 7BY
Best UK Mortgages & Grovelawn Limited does not provide personalised financial advice.