What Debts Can be Consolidated?We've helped resolve a wide variety of debts - such as credit cards, payday loans, and personal loans - here's what we could also assist you with.
If you’re struggling to repay multiple lenders, then debt consolidation could allow you to pay off these accounts and just focus on making one affordable monthly payment. As a broker, we work with providers who supply loans up to £75,000. This means we can help resolve many types and sizes of debt.
However, not all types of debt can be consolidated. We’ve detailed how we can best help below:
What debts can be consolidated?
Broadly speaking, unsecured debts can be consolidated. The most common types of debt we help resolve include:
However, other debts which could be consolidated may also include overdrafts and phone bills from previous providers. Generally speaking, as long as the debt isn’t secured against anything, you should be able to resolve it through consolidation.
What debts can’t be consolidated?
There are several debts which typically can’t be resolved through consolidation. Some of the most common include:
- Mortgage payments;
- Car finance;
- Court fines
Generally, if you’re trying to resolve a debt which is secured against an asset, you may be unable to do this through consolidation.
Can my debt be consolidated?
Although we’ve covered a few examples here, we’re aware there are many types of debt. If you’re wondering whether a loan would completely resolve your accounts, you should ask us.
We’ve heard just about every story so we can tell you – at no cost – whether we think a debt consolidation loan is the best solution for you.
Just let us know what debts you want consolidated, and we’ll get your application started!Apply Now
APRs from 5.8% to 89.9%
We are a broker, not a lender.
Unsecured Loan Representative 69.9% APR
Borrowing £7,500 over 36 months, repaying £502 per month, total repayable £18,083. Total cost of credit £10,583. Interest rate 69.9% (variable). The lenders on our panel offer loans for 12-60 months, with rates from 5.8% APR to 89.9% APR. The Representative Example is based on all loans paid out by lenders between 19th Apr 2022 and 23rd Dec 2022.
Secured Representative 11.7% APR
If you choose to add fees to the loan: Assumed borrowing of £25,000 over 120 months, plus a broker fee of £2,500 and a lender fee of £250 would result in monthly repayments of £345.55, the borrowing rate is 8.6% (variable), the APRC is 11.7% (variable), total charge for credit £16,466.00 and the total amount payable £41,466.00. You can opt to pay the lender and/or broker fees upfront, your adviser will discuss these options with you.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any debt secured on it. All rates vary subject to loan amount, loan type and status. Repaying your debt over a longer period of time may increase the amount you pay.