Debt consolidation loans to clear all the financial mess in one go

Scattered obligations can never let the financial relief stay for long in your life. So many instalments and on different, volatile interest rates. It is necessary to discipline them all to control the damage they can cause. Nothing can be more efficient for this purpose than debt consolidation loans. They are like the accumulators of money muddle that you fail to handle.

All the debts are gathered in one big loan and in the place of making multiple repayments you pay one instalment on a fixed rate. Above all, there is no guarantor or collateral to achieve acceptance on the loan application. From all the aspects, it is a fair deal. The least and last amount you can borrow is £1000 and £15000.

Did you know? Debt consolidation is different from debt management

Most of the borrowers mix debt consolidation and debt management in meaning. However, both are entirely different and are dissimilar in purpose.

Debt consolidation - a financial product gathers all your debts to transform into one loan and one instalment on a fixed rate. Its purpose is to tackle the clutter of multiple debts.

Debt management - It is for those who fail to pay all the debts at the month-end due to insufficient funds. In this case, a person makes payment agreements with the creditors to either pay off the debt at a later or asks to write it off.

What attributes are attached with Unsecured Consolidation Loans?

Unsecured debt consolidation loans are ideal for poor credit people because they have two goals to achieve:

  • First, to pay off all the debts,
  • Second, to improve their credit scores

We are flexible to our lending approach, and thus, we do not hesitate to offer the personalised deals for them. We care for their finances and do everything to get rid of every debt like:

  • Medical bills
  • Personal loans
  • Credit card payments
  • Short-term education loans
  • Utility bills
  • Overdrafts
  • Tax arrears
  • Auto loans etc.

The list can be extended according to the type and nature of the debts you owe. You will find Easymoney Loan UK right there irrespective of the feature debt. We cover every possible financial commitment that can come under the treatment of debt consolidation loans for bad credit people in an unsecured way. Let us know what annoys you, and we are sure to present the right type of loan deal as the solution.

To be more precise, here we are explaining in terms of the difference between secured and unsecured loans:

Unsecured Debt Consolidation Loans Secured Debt Consolidation Loans
You do not need to place the collateral like a home, car or any property. Securing the loan amount becomes necessary as it is comparatively substantial.
Apply for the loan when you are struggling with an emergency of consolidating debts. When your debts are significant in amount, secured debt consolidation loans suit to your finances.
Interest rates can be lower as you have only one debt to clear, but slightly higher than the secured one. There will be low-interest rates on the loans as you have pledged it with the collateral while applying.

What are the Advantages of Debt Consolidation Loans?

The financial assistance that you get is somewhat necessary to ease the financial stress that you bear for a long time. There are many such advantages of applying for debt consolidation loans:

  • The biggest one is that you can avail money at quite a low rate of interest as compared to the multiple debts. Effortlessly manage the interest from your regular monthly income, and that will indeed lighten the financial burden.
  • When you have several debts to clear off, you cannot have a sigh of relief. It can come only through paying the debt sooner, and that is what the loans bring for you. Make all the pending amounts clear and live a financially contented life.
  • In most of the times, the direct lenders can provide debt consolidation loans on an instant decision because the application method is based online and without following too many formalities./li>

How Can Debt Consolidation Loans with Bad Credit Be Possible?

It is common to confront the threat of a bad credit situation when you have many debts to pay. In such circumstances, attainment of financial assistance becomes difficult as traditional financial services act reluctant towards you.

At this time, it becomes necessary to find an alternative, which can deal with such situations.

Here again, we come with our lucrative deals of debt consolidation loans for bad credit as a direct lender to turn impossible into possible. Get all your pending obligations in one debt despite poor credit rating.

CONDITIONS TO APPLY AND AVAIL WITH LOW RATING

With complete respect to lending ethics, we follow certain situations to help you even better. You fulfil them and leave rest on us.

  • Prove your repayment capacity through salary slip, bank statement, additional income etc.
  • Show the job stability proof through the appointment letter of the current income.
  • Present the required documents if your financial mess happened due to some unfortunate incident. For example - Medical emergency that derailed finances, moving to a new city due to a natural calamity etc.

All our formalities aim to provide the best possible services to the borrower. Your cooperation in this part helps us do things faster when framing the best deal on debt consolidation loans for bad credit in the UK.

HOW DOES DEBT CONSOLIDATION AFFECT YOUR CREDIT RATING?

A wide range of exciting deals is available, and at Easymoney Loan UK, we are always there to allow you to shop those deals. Our lending services send immediate financial assistance without any flaws.

The improvement in the credit scores can only come through proper repayments, and the loans help in this scenario. You just need to make a single monthly repayment of the loan at the right time. It will give a chance of making necessary amendments into your financial profile.

In your way to control the increasing debts, the debt consolidation loans for poor credit people are indeed the vital financial source because they help you in paying off your bills and getting your financial life back on track. Banks or some finance agencies are generally unwilling to give loan to the people with the low credit option. This is the reason why borrowers prefer direct lenders to have a positive impact on their credit scores.

Do I require no guarantor to back my loan application?

Arranging a guarantor when your credit score is low can be a time taking process. It is something that can be very annoying, especially when your pending debts are asking for quick action.

As the dependable online lender in the UK, we understand such compulsions and ready to offer debt consolidation loans with no guarantor required. Do not worry about the interest rates because we do levy anything on you; everything will be the same as it is at the start of the loan process.

These sources are perfect for those borrowers, who are:

  • Applying for the loans first-time
  • Moving to another city for living purpose
  • Students living on rent or in hostels
  • Struggling with poor or very poor credit score

By the way, we also serve beyond employment status

Job loss is a big incident of life, and its first impact shows on finances. The challenge of multiple debts takes monstrous form if unemployment accompanies it. It is a happy thing to convey that here also we can help you with our borrowing offers for consolidation through loans for unemployed. Immediate support is assured here too.

You need to go through a simple process of formalities and this time we have the following –

Income proof from the last employer
Bank statements
Any source of earning after a job loss to prove the repayment capacity
Offer letter of the new job (if you have attained)

During the intense financial stress, reducing your debts delivers immense relief. If you are going through this trauma, keep no second thought on our efficiency to assist you.

Why Are Debt Consolidation Loans Better from Direct Lenders Only?

Debt consolidation tailors not only your today but also tomorrow. For that, the loan deals are necessary to be backed,and this is where the direct lenders’ role comes into the picture.

We know the compulsions that people face with increasing debts, and we feel proud to prepare already the deals on debt consolidation loans for bad credit and no guarantor as an added exemption. More attributes are available for them, such as:

  • Consolidation of debts with competitive interest rates
  • Personalised loan deals according to the financial capacity of the borrower
  • Online loan application with an instant approval decision
  • Early financial solution with effective lending policies

Once you opt for our lending service, it will be a unique experience for you that will ensure fruitful results for your financial interests.

Paying the interest charges of multiple debts increases a lot of burden on you and managing them from your regular. Still, limited monthly income would be difficult, whereas better debt management will help you to solve your financial problems early.

Easymoneyloan UK, being a responsible credit lender in the UK, maintains expertise on debt consolidation loans with no credit check to help the applicant avoid search footprint. The deals are arranged on the competitive APRs and flexible repayment terms.

Debt Consolidation Loans FAQs

Is debt consolidation right for you?

Debt consolidation is a useful option when you have the burden of excessive debts on your finances. These debts may be of utility bills, credit card payments, or loan repayments.

If you have the option of a debt consolidation loan, you can merge all these debts into a single payment and get the benefit of low-interest rates.

Do consolidation loans hurt your credit score?

There are rare chances that these loans hurt your credit rating. They help you to improve the scores as the repayment is single and easy to manage from the monthly income.

What’s the difference between secured and unsecured consolidation loans?

The difference between secured and unsecured debt consolidation loans are as such:

Secured debt consolidation loans:

  • These are perfect for merging cumbersome debts related to personal and business activities.
  • Providing collateral is mandatory that should be equal to the value of borrowed amount.
  • A large amount for a more extended period can be availed with these funding sources.
  • Interest rates remain on the lower side.

Unsecured Debt Consolidation Loans

  • There is no need to pledge any asset as the loan collateral.
  • These options are suitable for emergency debt mergers.
  • Interest rates may slightly be on the higher side.
  • These are ideal for smaller debts need for an urgent consolidation.
Can you get an unsecured debt consolidation loan?

Yes, you can anytime avail the services of an unsecured debt consolidation loan. The direct lenders like us do not mind your inability not to secure the loan. We allow a smooth loan approval that will help you consolidate all your pending dues in one go.

How long can I borrow with a debt consolidation loan?

It depends upon the pending debts and your need for the borrowed amount. You can avail the loans for one year or a maximum of five years. We recommend individual circumstances while decided the loan terms.

How can I get the cheapest debt consolidation loan?

There are various ways to get loans on cheapest rates:

  • Choose the reliable direct lender following flexible repayments
  • Keep your credit score improving day by day with proper management
  • If possible arrange a guarantor to repay the amount on time
  • If you want the substantial amount to borrow, then pledge the loan with collateral
What happens if I cannot make my repayments?

Not making the repayments on time can hurt you a lot. It puts significant damage to your credit score and keeps on increasing your financial burden. Therefore, you should not delay the repayments and try hard to make them on time.