Debt Consolidation Loans

Credit cards, personal loans, store cards and higher purchase goods making monthly repayments a nightmare? Would you prefer to pay a little less each month, or would you prefer to pay off your loans quicker? At Money Market UK, we recognise a consolidation loan is a popular route out of complex debts.

• Your monthly repayments could be reduced significantly.
• Your debts will be 'all in one place' and easier to manage.
• Even if you only have one debt a loan may provide a cheaper alternative.

What is Debt Consolidation?

A debt consolidation loan combines your existing debts. This should make your debts easier to manage. As only one monthly payment is required there is a reduced risk of missing payments which can affect your credit score. Typically a consolidation loan will reduce your monthly repayments meaning that your have more money to spend on the things that you enjoy. This can often be all that is needed to put an end to the stress-inducing demands made by nagging creditors.

Can I apply for Debt Consolidation?

A Debt Consolidation loan can be a highly effective way to sort out your debts, but it's not easy to get. Typically loans are between £1000 and £15000, these amounts are seen as safe amounts to lend when not secured against your home. Anything over these amounts are rarely lent unless you have a clear credit history, and unfortunately applying for loans can be detrimental to this score. If you have a less then perfect credit score then it can be very difficult to get a loan, even for between these amounts. At Money Market UK we always call you before checking your credit for a loan, we will let you know through our own analysis weather you are suited to a loan, or any other products we offer.