Consolidate loans, credit cards and other finance into one payment? If this is what you are thinking, you may be interested in getting some FREE advice from Chiltern. many people looking to consolidate loans are doing so because they are struggling to make repayments on their existing credit arrangements. If this is you, it will interest you to learn that this may not necessarily be the best option for you, loans can help, however, if you then start to struggle repaying the loan, you may be worse off than if you get advice now. Read on for more information or call one of our debt counsellors now on 0800 043 2332.
When IS a consolidation loan right for me?
A consolidation loan may be appropriate for you if;
- you are paying high interest on two or more products and can reduce this with one loan
- there is room to reduce your monthly payments with a loan which covers two or more existing payments
- you need to free up some cash for an unexpected bill or purchase
If you feel you fit these criteria, please give us a call on 0800 043 2332 to discuss your options further.
Consolidating your debts into a single monthly repayment can often be all that is needed to bring your finances into line, however, consolidating existing credit is never an all in one cure. It can, under the right circumstances, help you clear your debt faster, but if you are struggling more than you realise, it may end up causing you more problems further down the line.
When is a consolidation loan NOT right for me?
A consolidation loan may not be approriate for you if;
- this is not the first time you have consolidated your debt with a loan
- this loan would include debt owed as part of a previous consolidation
- if you intend to continue using credit cards which you would pay off as part of the loan
If you fit these criteria, then you should definitely get in touch to look into better suited alternatives. Please call on 0800 043 2332 or complete the orange form above.