Debt Consolidation Loans
Personal Debt Consolidation Loans available in the UK
1: A debt consolidation loan is NOT always the best debt solution to select.
2: A debt consolidation loan can combine a multiple number of credit agreements into one new agreement.
3: If a person considers a debt consolidation loan it is important to know if this will actually help them or not, debt consolidation loans can simplify finances if there are many credit agreements involved but they can also complicate matters further if not considered correctly.
4: Debt consolidation loans are usually arranged by banks and other lenders.
5: The amounts and rates of interest offered by lenders for debt consolidation loans differ but are usually arranged between £3000 - £250000 subject to credit status
6: Debt consolidation loans are available secured against items of value, or unsecured. If unsecured the level of funding / borrowing offered is usually under £25000.
7: People are not advised to take out a debt consolidation loan if they are securing it against a property / home.
8: The rate of interest charged for a debt consolidation loan is always subject to the credit status of the person who is applying.