Debt Consolidation
Debt consolidation loans are one way of consolidating your debt if you are a homeowner. You will need to have enough equity in your home to cover the debts you wish to pay off, such as credit cards, personal loans and banking overdrafts.
Debt Consolidation vs IVA
A debt consolidation loan can be used to pay off existing secured loans and other types of debt not covered by an IVA. In addition an IVA is a serious undertaking and may damage your credit rating for up to six years although if you own a property it will be safe in an IVA. A debt consolidation loan secured on your property won't harm your credit rating but your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.
What to do Next
If you feel that a debt consolidation loan is a better option for you, please contact our debt consolidation partners - Creditflex Loans - on the following :
- Call free on 0800 027 7711 to talk to a debt consolidation advisor at Creditflex Loans
- Follow this link to find out more about debt consolidation loans from Creditflex Loans
- If you feel this is the best option, click here to apply for a debt consolidation loan from Creditflex Loans
Solutions
- What are the Alternatives to a Debt Management Plan?
- IVAs : Individual Voluntary Arrangement
- Debt Consolidation
- No Credit Check Banking with Prepaid Card
Complete this short form and our debt advisors will contact you.
