Loan consolidating debts uk
Getting a consolidation loan with a high rate just doesn’t make much sense.
So, if you have bad credit what are your options for consolidating your debt? Transactions are not always black and white, relationships play a big part in a credit union.
Consolidating your debt can save you a lot of money in the long run.RATE SEARCH: Get Cash Using Your Home Equity A debt consolidation loan is a personal loan that pays off multiple debts, such as credit cards and student loans.The loan is paid back with a single monthly payment at a fixed rate for a period of 24-60 months.If you have been with the same credit union for a long time the likelihood of getting approved for a debt consolidation loan with poor credit is increased.
Debt consolidation loans for bad credit are either not possible, or come with high interest rates.
So whether you have credit card debt or multiple outstanding loans, you may be better off combining your debt into one affordable, hassle-free Lending Works loan. Furthermore, our guide to debt consolidation loans will tell you everything you need to know about the merits of this type of personal loan.