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Debt consolidation or Debt management?

The term debt consolidation usually applies to people who consolidate all their outstanding debts (such as credit cards, store cards, loans and overdrafts) into a single consolidation loan.

This simplifies and, in most cases, can reduce your monthly repayments as you can cover all your debts with a single loan taken over a longer period, often with a lower interest rate.

Call our debt consolidation experts on freephone 0800 074 8639

Debt management differs from debt consolidation as you can benefit from one lower affordable monthly payment without the need for another loan. You won’t need to borrow any more to pay off your creditors and the amount you repay each month is based upon what you can reasonably afford.

We will take care of all the paperwork on your behalf, liaise with your creditors and ensure that everything runs smoothly, leaving you free to get on with your life without the worry and stress of debt.

Benefits of debt management

  • You agree one lower affordable monthly payment based on what you can afford
  • You have your own Personal Finance Manager taking care of you
  • We liaise with your creditors on your behalf
  • You do not need to take out another loan
  • We can help even if you have a bad credit rating

Benefits of a consolidation loan

  • You consolidate all your existing debts into a single loan, making it easier to manage
  • A consolidation loan means that you may be able to reduce your repayments into one lower affordable monthly payment
  • Won’t affect your credit rating

How do we consolidate your debts?

Our team of debt experts will discuss a range of debt consolidation plans with you and, based on your circumstances, find the best solution for your needs. We’ll discuss your finances in the strictest confidence and, from that information, be able to recommend the right answer for you.

Are we regulated?

We are members of DEMSA, which is the Debt Managers Standards Association; an organisation founded to monitor and maintain high standards and to promote good practice within the Debt Management industry. We also work to the guidelines set by the OFT (Office of Fair Trading).

Subject to status. Conditions apply. Repaying debt over a longer period may increase the total amount to be repaid. Your ability to obtain credit will be affected in the short term and might be affected in the medium to long term. Fees payable. Calls may be recorded for training and quality purpose

Other debt consolidation solutions available to you include:

Not sure which debt consolidation solution is best for you? Contact us on the number below or make an online enquiry using the free call back form on this page.

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