Debt Management & Consolidation

 

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Debt Management is an informal process of negotiation with unsecured creditors to obtain a reduction in the repayment amount and / or a reduction in interest charges. The negotiation involves providing proof to the creditor that the individual is unable to meet all their contractual liabilities.

Debt management helps you repay an amount which is affordable to you. Often it is possible to negotiate so that you pay back less than the original amount owed.

A consolidation loan may be appropriate in managing debt - this is the process of grouping all your current debt into one loan. This should result in lower payments which may be as a result of a longer term loan or lower interest charges or possibly both.

 

Debt Management Service Type : Debt Management Restrictions : Only available if £10,000 or more in debt. Welcome to Apply : Tenants & Homeowners Example : N/A Other : Full debt management package offered. Will negotiate with creditors to reduce payments. Consolidation Loans. No credit checks. Will advise on bankruptcy, repossessions & IVA's. Business Loans. Find out more and apply online by clicking here. Unsecured Personal Loans (ASDA) Typical APR : 6.9%  on loans between £7,500 and £25,000 Loan Type : Unsecured Loan amounts : £7500 to £25,000 Repayment term : 1 to 5 years Restrictions : Good credit applicants only. Welcome to Apply : Tenants & Homeowners Insurance : optional Fees : none Example : £7500 loan (no insurance) : 60 months @ £147.42 per month = £8845.20 Find out more and apply online by clicking here. Secured Homeowner Loans (Firstplus) Typical APR : 8.5% Variable Loan Type : Secured on property. Loan amounts : £5000 to £100,000 Repayment term : 5 to 25 years Restrictions : homeowners only Welcome to Apply : N/A Insurance : optional Fees : None. Example : £8,000 loan (no insurance) over 60 months @ £162.79 per month = £9,730.20 Find out more and apply online by clicking here.   Warning : think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.