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One Monthly Repayment
This is a single loan that can be used to pay off existing debts - personal loans, credit cards, overdrafts, or unpaid bills. Consolidating outstanding debts can relieve your financial pressure.
Advantages of Debt Consolidation:
- Relieves financial pressure
- Reduces monthly repayments
- Enables you to get yourself back on a stable footing
Disadvantages of Debt Consolidation:
- You may be increasing the terms of some or all of your loans thereby increasing the amount of interest you pay in overall terms (for example, it doesn’t make sense to finance a holiday loan over 20 years)
To find out more please contact a Moneycare Advisor today.
WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT
WARNING: THIS LOAN MAY TAKE LONGER TO PAY OFF THEN PREVIOUS LOANS. THIS MEANS YOU MAY PAY MORE THAN IF YOU PAID OVER A SHORTER TERM
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