Debt & Bill Consolidation Information >

How Much Do You Know
About Debt Consolidation?

Debt Consolidation

Debt Consolidation is combining all your debts into a single loan, be it secured or unsecured, with reduced payments, does not reduce the total amount of money owe. It simply allows you to pay off all your credit cards and other debts. You are then left with one loan-your debt consolidation loan. We will only offer you debt consolidation programme if it the best way to solve your debt problem.

Debt Settlement

H&HC negotiates with your creditors to settle the debt for a lower amount than owed, if you can raise a lump sum to offer your creditors now, then let H&HC negotiate a full and final settlement payment of up to 50% of the original amount that you owe.

Debt Management

Debt Management is an informal arrangement with your unsecured creditors; your debts are consolidated into one affordable monthly payment. Levels of payment are agreed and paid monthly on your behalf. We will only offer you a debt management programme if it the best way to solve your debt problem

Debt Consolidation Loans

Put simply, it is a loan that is used to pay off other existing debts, resulting in just one monthly payment. This type of loan is commonly used to combine unsecured debt, making it easier to manage your overall budget and stick to a repayment plan. Debt consolidation may be a good idea if you find yourself in any of the following situations:

• You’re tired of making several different debt payments each month and would like to combine them into just one payment
• You’re having trouble staying current on the payments for your existing debt
• Your existing debts have varying interest rates and you’d like to lock in one rate for everything
• You want to reduce the amount of your monthly budget that goes toward debt repayment
• You’re looking for an easier way to pay off existing debt and become debt free

Secured Loans

Secured loans are loans secured on property, in much the same way as a mortgage. Secured loans require no upfront survey, legal or other fees. Loans are available for any purpose: debt consolidation, the purchase of a new car, home improvement, holidays, or anything your clients choose. Any amount can be borrowed from £3000 to £500,000.

To qualify for a loan you must be over 18, resident in the UK and a homeowner. Loans are available up to 125% of the value of the property, interest only if required, with fixed rate and flexible options available.

We have special schemes available for those requiring a self certification facility that can go up to 100% of property value. There are also many schemes available for those that have had credit problems in the past and those that have already been declined for a loan elsewhere. We also have schemes available for those with a good financial track record. We can offer highly competitive rates that are often lower than you would imagine. A secured loan allows you to take advantage of preferential interest rates that would not be available for an un-secured personal loan. You are also much more likely to be approved for a secured loan.

The amount borrowed is repaid monthly over a term agreed at the outset, which will usually range between five years and twenty five years. A penalty may be charged if a loan is repaid earlier than agreed - each lender's criteria differs (please ask for further information with regard to redemption penalties).

The amount that can be borrowed, the term available and the A.P.R will all depend upon the equity in the property, and your personal circumstances. For example any adverse credit can affect the amount that can be borrowed or the interest rate available. you may be able to borrow up to 125% of your property value.

Initial assessment can be made quickly, however loans under £25,000 are regulated, and a consideration period will be given to allow time for you to assess the implications of the credit agreement, and to ensure that you are fully aware of all the terms and conditions.

Bad credit loans

If you have a bad credit history you have probably found it’s hard to get a loan. Whether it’s for a home, a car, or a personal unsecured loan, people with bad credit typically have a harder time finding a lender. H&HC we specialise in working with people who have a bad credit history. You will likely pay a higher interest rate than someone with a good credit history, and the amount available for you to borrow will probably be lower. However, once you’ve secured a bad credit loan, over time you can improve your credit score by showing regular, responsible repayment of the loan.

What You Need To Do Next!

To get the process up and running and clear your debts once and for all, simply email paul@]IVACentre.co.uk

Alternatively, enter your name, telephone number and a time to call in the empty boxes at the top right of this page, (below where it says Request Callback) and we'll call you to let you know the steps involved and how much you might expect to reduce your monthly payments by.

So, get all the information you're going to need right now by contacting us via the form above.

To get FREE Confidential debt advice and reduce your monthly payments to a more affordable level, as well as reduce or even freeze your interest payments, you simply need to put your details in the orange form on the top right of this page and we'll take care of the rest for you.

Remember, once your UK Debt solution has been approved, you will be reducing both your monthly outgoings and in many cases the total amount of interest you pay over the term of the debt management plan.