Www debtconsolidatings com
You can find out more and set your own preferences here. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.Available to existing Nat West current account customers over 18.
It is less common with credit or store cards but more common with loans.Debt consolidation involves taking out new credit to pay off your debts and debt management is where you negotiate affordable payments with the companies you currently owe money to.Both can lead to lowering payments but are completely different ways of dealing with debt.For example, what if interest rates go up, or you fall ill or lose your job?If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.In Scotland you can arrange a Debt Payment Programme from the Debt Arrangement Scheme.
You may also have the option of reaching an informal agreement with your creditors.
Debt consolidation can be a useful strategy in some situations but for many it can involve extra costs, and potentially makes a difficult situation much worse.
That's why it's best to get expert debt advice before taking out a consolidation loan.
If an ERC applies, remember to take it into account when working out the cost of a new loan. Check all outstanding balances, interest rates and any penalties for paying off the debt early. The interest you receive on your savings might be lower than the interest you pay on a loan so you might want to consider paying off your existing debt with any savings you have.
Use our loan calculator to find the right debt consolidation loan for you based on your current debt calculation. If you're struggling with excessive mothly payments, you may be able to arrange a new payment plan or a 'repayment holiday'.
If you're not sure which option suits your circumstances then we can help.