By gathering all of your existing debts into a single loan, normally at a lower rate of interest, you have only one company to deal with, and lower monthly repayments may be possible.

Debt Consolidation loans are normally available from £5,000 to over £150,000 but the amount loaned will generally be determined by your personal circumstances. However, given the recent turmoil faced by many lenders, securing a debt consolidation loan at competitive rates is increasingly difficult, especially for those with a poor credit rating.

Obviously this depends on how much you are currently paying, and over what period you want to repay the loan. However, reductions in monthly payments are usually between 10% and 30%.

Absolutely. Even if your Debt Consolidation is secured against your house, you can either use the proceeds of the sale to pay the outstanding balance, or if moving to another property, you can usually transfer it to your new home.

Either way, contact us and we'll be happy to help you decide on the most suitable route for you.

Debt Consolidation can be an effective solution to clearing debt problems, the main advantages being:

¤	your existing creditors can be paid off in full, removing the stress of further demands
¤	you make only one affordable payment each month, usually at a significantly lower rate of interest
¤	your credit rating is unaffected, so your ability to borrow money remains in tact
¤	everything can usually be arranged within just a couple of weeks, quickly getting you back in control and avoiding any further trauma
¤	your employer will never know about your Debt Consolidation unless you choose to tell them
¤	unlike bankruptcy, your details are kept out of the local press and you are free to continue running a business and working in any profession.

There are a number of factors which determine how much you can borrow, not least of which is the total debt you need to clear. If secured against your property, then the amount of spare equity is fundamental, whilst your income and expenditure are also key.

The most important factor however, is that you can afford to make the monthly repayments. Debt Consolidation loans can be arranged from £5,000 to over £150,000 but you should seek advice on the best solution for you, otherwise your situation could actually be made worse.

This is entirely up to you and will depend on how much you can afford to pay each month. We can help you decide on the best period for your own situation, but most people choose to spread their repayments over a period of between 3 and 25 years.

Depending on your personal circumstances there are several alternatives to Debt Consolidation, the main options being an IVA, Remortgaging, a Debt Management Plan, or even Bankruptcy. Each of these have their various merits, but for more information or a comparison between them, take a look at all your possible debt solutions.

Debt Consolidation can usually be arranged very quickly. Once you have provided all the information required, the money can usually be paid into your account in under a week, immediately clearing your debt problems and allowing you to get on with your life.

Yes, although you need to be very careful not to allow things to spiral out of control. Consolidating your existing debts allows you to free up money for other things. You can borrow extra for a new car, a family holiday, or even a new kitchen. The important thing however, is that you don’t borrow more than you can afford, otherwise you could end up having more serious problems.

You can arrange for accident, sickness and unemployment cover if you want the added peace of mind this brings. Life assurance is also available, but make sure you only take out cover relevant to your own situation, since these kinds of cover can be very expensive.