Are you struggling to manage all your debt? Debt consolidation loans will combine all your debts into one and leave you with only one payment per month. Personal Loans Now, a premium direct lender, provides loans to consolidate your debt, even with a poor credit history. If we can’t fund you the loan ourselves, we will work with handpicked lenders we trust to try and get you the perfect loan for your needs. Apply now for any loan amount and get up to £25,000*, with an instant decision and same day payout, if approved!
What is a Debt Consolidation Loan?
A debt consolidation loan is when you take out a new personal loan to repay your outstanding debts through a single monthly repayment. You can use it to pay off credit cards, store cards, loans and overdrafts. Although your debts won’t go away, merging them into one personal loan could help you consolidate all your debts into one monthly repayment at a fixed rate and reduce your monthly outgoings. In turn, this would help you to manage your money better – as long as you can afford the repayments.
Debt Consolidation Loans for Bad Credit
Are you struggling to find a lender that will approve you because of your poor credit history? Personal Loans Now provide debt consolidation loans for bad credit in the UK with very high acceptance rates. If you are considering a consolidation loan for poor credit make sure that the monthly repayments won’t be more than the total of your current repayments, or you won’t be able to afford them. If you’ve done the maths, a consolidation loan for bad credit may be the tool you need to help you climb out of debt and positively affect your credit score. Apply today for debt consolidation loans for poor credit with an online decision for any loan amount up to £25,000*.
Are debt consolidation loans with no credit check safe in the UK?
Lenders offering no credit check debt consolidation loans, or guaranteed loans are probably not following the FCA responsible lending guidelines. So, you can’t be sure that entrusting your confidential details with these lenders is safe. Nevertheless, many lenders offer very poor credit loans to consolidate your debts. They are still legal and fully authorised by the financial conduct authority. We always carry out credit and affordability checks on all our applicants, to ensure that providing them with a loan won’t harm them financially.
Do direct lenders offer debt consolidation loans for bad credit?
Yes! Many direct lenders in the UK offer debt consolidation loans for bad credit. When choosing a direct lender to consolidate your debt, keep in mind that each lender will have varying interest rates. Some may also charge a fee for applying with them. Apply now for a low interest debt consolidation loan for bad credit with PLNOW, a premium direct lender. We won’t charge you a penny for our service!
Unsecured Debt Consolidation Loans
When taking out an unsecured debt consolidation loan, your assets are not at risk if you can’t make the repayments. Therefore, this carries a higher risk for the lender. Sometimes lenders will only accept applicants with a good credit rating and many times the interest on these loans are higher than you would pay on a secured debt consolidation loan. Most debt consolidation loans are unsecured, which means they are provided according to your creditworthiness. Personal Loans Now provide unsecured debt consolidation loans for bad credit with no guarantor at competitive interest rates.
Can I get debt consolidation loans with no guarantor?
Debt consolidation loans with no guarantor are a type of unsecured loan. This means that you won’t require a guarantor to co-sign your loan. With PLNOW’s unsecured debt consolidation credit, we will never ask you for a guarantor. Why hassle your family and friends when you can apply for the money you need without looking for someone to guarantee your loan repayments? Apply today with PLNOW, for a no guarantor debt consolidation loan from a lender that cares.
For how long can I borrow personal loans for debt consolidation?
You can borrow a personal loan to consolidate your debt from 3 months up to 60 months. Some lenders offer much longer terms, up to 10 years or more. When you apply for a personal loan for debt consolidation with us, you can choose how many instalments you want to repay your loan with our easy to use online application form.
Debt Consolidation Loan Alternatives:
If you’re struggling with debt, debt consolidation finance isn’t the only answer, and it may not be the right solution for your specific needs. Here are some other options to consider:
- Short term unsecured loans are often more readily available than debt-consolidation loans as many lenders offer them. With a debt consolidation loan, the lender pays off all the debt for you, and you pay them back. There are often additional charges for this. However, when taking a short term unsecured loan to pay off all your debts you are doing all the arrangements yourself which can save you paying additional fees and charges. When applying with PLNOW you can rest assured that there are no extra fees charged.
- Personal loans – The interest rate can be lower on personal loans, making the total loan repayment cheaper than a debt consolidation loan. You can find a debt consolidation personal loan that works out cheaper than your current debts. However the cost of the loan may increase if there is an extra fee charged for closing a loan early. This penalty will push up the total cost of your personal loan.
- Balance transfer cards – If you have credit card debt, you may be able to transfer the debt to a balance transfer card with a 0% interest for the first few years, which will save you a significant amount of money in interest. It’s essential to settle your debt before the 0% interest period ends as usually the rate will increase rapidly. Some cards will also charge a balance transfer fee, which will add to the overall cost. You will often need a good credit rating to get one of these types of cards.
Everyone is entitled to free and impartial advice on debt management and you may be eligible for a government debt consolidation loan. Follow this link for more information https://www.gov.uk/options-for-paying-off-your-debts.
Debt Consolidation Loans from Personal Loans Now
Personal Loans Now specialises in providing loans to consolidate your debt at great prices. This will help you get your existing debts under control. You can apply for anything between £1,000 and £25,000* and receive an instant decision on your application, even with bad credit. If we can’t fund you the money ourselves, we will work with Monevo’s platform of direct lenders to try and get you the best type of loan for your specific needs. Once you are approved and accept the loan offer, the money will be sent to your bank account on the same day**. Apply now and get those runaway debts under control.