Debt Consolidation

Custom Search

Debt Consolidation
Debt Relief
Debt consolidation home
Correcting Your Debt
Debt - Strategically
15 Ways Average
Debt Consolidation or
Debt Consolidation 101
Guide to free
Guide to online
Debt Handling Solutions
Consolidation Loan Student
Get Out Of
Student Loan Debt
How to Avoid
Debt Consolidation Loans
Debt Collection--Tips for
Debt Management Plans
Consolidate, Before It's
How To Find
Bad Credit Debt
Business Debt and
Christian Debt Consolidation
Consumer Debt Consolidation
Credit Card Debt
Debt and Bill
Debt Consolidation Advice:
Debt Consolidation Companies:
Debt Consolidation Credit
UK Debt Consolidation
Debt Consolidation
Unemployed debt consolidation:
Credit Card Debt
Debt Specialist In
What can debt
Debt reduction companies
Play the Credit
Debt Consolidation
Debt Relief
What You Need To Know About Debt Consolidation
by Luke Ashworth
What Is Debt Consolidation?Debt consolidation loans are fairly easy to understand. Think of an individual with 15 bill payments going to 15 different creditors each month. Imagine that individual struggling each month to pay each bill on

What Is Debt Consolidation?

Debt consolidation loans are fairly easy to understand. Think of an individual with 15 bill payments going to 15 different creditors each month. Imagine that individual struggling each month to pay each bill on time. Now imagine that individual rolling all 15 bills into one debt and paying just one bill per month, instead of many. This is how debt consolidation works. Debt consolidation loans allow borrowers to pay off several bills at once and end up with just one creditor to repay.

A debt consolidation loan is great for making a fresh start. You borrow one lump sum, repay your original creditors, and are left with a loan from just one creditor. Often, your monthly payment will be even lower than the total amount of bills you were paying monthly before consolidating. A secured debt consolidation loan generally offers lower payments than an unsecured personal loan and allows for a significantly longer repayment term.

Though the benefits of obtaining a debt consolidation loan are many, there are some disadvantages. For example, you may end up paying more over a longer period of time with a debt consolidation loan. There may be extra costs to pay for setting up your loan and if your loan is secured, you accept the risk of having your collateral repossessed if you default on the loan. Furthermore, since you will only have one creditor, you may have more trouble negotiating if you develop problems with repaying your loan at some point.

For many, however, debt consolidation loans are exactly what is needed to make paying off debts easy and manageable. Obtaining a debt consolidation loan can help you avoid bankruptcy, reduce interest rates, and gain a lower monthly payment. Debt consolidation loans can generally be obtained in amounts ranging from £5,000 to £75,000.

What to Know About Debt Consolidation Loans in the UK

Debt consolidation loans, in the UK, are often marketed towards those with credit problems. These loans enable borrowers to consolidate many debts into a single loan, making it easier to make monthly payments. Debt consolidation loans can help individuals struggling to meet multiple monthly bills and can assist them with avoiding bankruptcy.

Though an individual with problem credit could obtain a conventional secured loan, debt consolidation loans offers some benefits that make them a better alternative. For starters, debt consolidation loans are often easier for individuals with damaged credit to obtain than other types of loans. Lenders are often willing to offer debt consolidation loans at lower rates and some debtors are even willing to lower repayment rates for those who obtain debt consolidation loans.

Individuals can apply for debt consolidation loans through traditional banks, alternative lending companies, and online lenders. There are even some lending companies that specialize in debt consolidation loans. To obtain a debt consolidation loan, you must demonstrate that you have a reasonable amount of income, a stable residence, and are able to provide acceptable collateral.

The actual consolidation of your debts can occur in a variety of ways, depending on the lender. In some cases, the lender will handle the repayment of your debts for you, while in other cases the lender will provide you with the line of credit or a check and you will have the responsibility of repaying your debts.

By Luke Ashworth

You may freely reprint this article provided the following author's biography (including the live URL link) remains intact:

About the Author

Luke Ashworth is the founder of which helps homeowners search for loans via the website

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Fairwater village Balance of Bancroft township Somerset village Breckenridge town St. Marys Valparaiso village West Bloomfield charter township Minersville town Spring Valley village Greenville East Cocalico township Upland town Eutawville town Middletown Portal Penalosa Balance of Sangamon County Lost Springs Savanna Pend Oreille County Elmira Heights village Taylorville township Liberty Lake Rockville Centre village Concord village Walle township Montague town Marengo County Arlington village Prior Lake USA UK Australia Canada Bangladesh Sri Lanka Lesotho Tunisia Honduras Czech Republic Vanuatu Isle of Man China, Republic of (Taiwan) Bolivia Hampshire Argyllshire Monmouthshire Caithness Leicestershire West Sussex Northumberland Renfrewshire Kincardineshire Middlesex District of Columbia (DC) Pennsylvania (PA) Indiana (IN) New York (NY) Oregon (OR) Michigan (MI) Kansas (KS) Arizona (AZ) New York (NY) Northern Mariana Islands (MP) New York (NY) Nevada (NV) Nevada (NV) South Carolina (SC) North Carolina (NC) District of Columbia (DC) Pennsylvania (PA) Ohio (OH) Kansas (KS) Missouri (MO)