Debt Consolidation

Credit Cards, personal loans, store cards and higher purchase goods making monthly payments a logistical nightmare, would you prefer to pay a little less each month, or would you prefer to pay off your loans quicker? At Chase Saunders, we recognise an unsecured consolidation loan is a may be a suitable route out of complex debts, read on for the advantages.

• Your monthly repayments can be reduced by up to 60%.
• Your debts will be 'all in one place' and easier to manage.
• Even if you only have one debt a loan may provide a cheaper alternative.

What is Debt Consolidation? Is a consolidation loan the right option for me?

An unsecured Debt consolidation loan combines your existing debts. This should make your debts easier to manage. As only one monthly payment is required there is a reduced likelyhood of missing payments which can affect your credit score. This assumes that the new loan will be sufficient to repay all other unsecured debts. Any payments to debts that are not repaid by the new loan will still need to be serviced by the customer. Typically a consolidation loan will reduce your monthly repayments meaning that your have more money to spend on the things that you enjoy. This can often be all that is needed to put an end to the stress-inducing demands made by nagging creditors. It is worth noting that using an unsecured loan to consolidate debts will usually lead to an increase in the total amount of debt to be repaid.

Can I apply for Debt Consolidation?

An unsecured Debt Consolidation loan can be a highly effective way to sort out your debts, but it's not easy to get. Typically loans are between £1000 and £5000, typically, lenders consider these amounts less risky than larger amounts where the loan is not secured against property or other assets. Anything over these amounts are rarely lent unless you have a clear credit history, and unfortunately applying for loans can be detrimental to this score. If you have a less then perfect credit score then it can be very difficult to get a loan, even for between these amounts. At Chase Saunders we always call you before checking your credit for a loan, we will let you know through our own analysis whether you are suited to a loan, or any other products we offer.

What will Chase Saunders do for me if I apply for Debt Consolidation?

• We will check that you are suited to a debt consolidation loan with analysis from our experienced advisors
• We will check all your incomings and outgoings, check how much you require, and arrange for a loan plan which is affordable and fair.
• Make your debts easier to manage.
• Less creditors to hassle you with letters and calls.

Additional advantages of Debt Consolidation?

• One payment each month.
• no additional marks against your credit score if repayments are not met.
• Reduced likelihood of missed payments.

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• March 2010
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