Debt consolidation loans are possible with
If your debt is getting out of control, Active Finance can help you with debt consolidation loans. Debt consolidation loans are new loans taken to pay off your existing debts, and work by offering in most cases a lower interest rate than your current debts are attracting and the idea is that you have just the one repayment as well. That means that all your debt is with one lender and your loan offers a competitive interest rate, so you can get your debt under control. We can also spread your repayments over a longer period, so your weekly or monthly payments are lower than your existing ones. That means you can still afford the things you need in day-to-day life, while managing your debt successfully.
Opting for debt consolidation and having a single loan to pay back can make your life much easier. You’ll no longer have to keep track of multiple payments per month – all due on different days and for different amounts. Instead, you’ll make a single repayment for a fixed amount, making it easier to manage your money and plan in advance. That means you’re less likely to miss payments, improving your overall credit rating over time. When you take out debt consolidation loans, we can also set a repayment schedule that suits your financial situation. That might mean paying your debt back over a longer period, but can reduce the regular amount you pay to a manageable level.
Active Finance can help you arrange debt consolidation loans that are either secured or unsecured. For larger loans, a secured loan maybe required, meaning you will need to offer your assets as a back-up for your loan payments. However, we can usually get you a better interest rate for secured loans. If you just need a short-term loan and don’t have any major assets, we can still help you out with an unsecured debt consolidation loan. The interest rate may be slightly higher, but the amount is usually less and is paid off rapidly.
Even if you have a poor credit history, Active Finance Loans may still able to help you with debt consolidation loans. We believe that every loan application should be judged on its own merits, rather than against a set of rigid criteria. If you are in a situation where you can pay off your loan, then we can usually help, regardless of your history. Our aim is to help you get debt-free, so we’ll work to find you the best loan option possible, and arrange flexible repayment options that suits your finances.
Get your debt under control today by completing our simple online application form. If you would like to discuss whether debt consolidation is the right option for you, contact our friendly and experienced team now and they will be happy to talk it through with you.
Interest rates for debt consolidation loans do vary based on your overall profile which includes your credit history, residence and income stability and also depends on if there is any security on offer to create a secured personal loan or if not then an unsecured personal loan. Loan terms also vary depending on the security on offer but you can expect to be able to repay your loan between 6 months and a maximum of 60 months typically. There can be variations to this and we try and structure the repayments to suit you and your affordability hence the term can vary to meet an individuals requirements. We have given an interest rate guide below along with an example based on a real case of a typical secured personal loan taken out over 36 months, repaying weekly, using a car as security for a borrower who has a good to excellent credit history.