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Loan Information - Debt Consolidation Loans


Debt Consolidation Loans


Information on Debt Consolidation Loans

If you have a number of loans to pay, a debt consolidation loan is the type of loan that bundles up all your existing debts into one larger, more manageable debt on which you can then pay off over a longer time scale. This will make the payments easier but you will owe more in the long term. But this could help you budget easier and keep track of your finances.

Key points to remember on debt consolidation loans

  • Do not take out a debt consolidation loan unless you really need one.
  • Dont forget that the lower the monthly payments on the debt consolidation loan, the longer the payback period will be.
  • Debt consolidation loans are usually secured and transfering unsecured borrowing such as credit cards may put you more at risk if you do not pay.
  • Try to get to the main cause of your debt problem and get that sorted.

Tip: Do not dispair if you need help, try specialist debt advice like the National Debtline who are a registered charity and help people with financial problems with free advice.

List of Major Secured Loan Providers

List of Major Unsecured Loan Providers

List of Major Debt Consolidation Loan Providers

OCIS provide general financial information, we urge you to consult an Independent Financial Adviser ( IFA )
before making any important decisions about your finances.