Debt Consolidation Loans and Re-mortgages

People often take out consolidation loans to reduce interest charges on their debts and combine payments for ease of use. But they often don't realise the risks they leave themselves open to. Many people lose their homes through being unable to make payments. Debt Management offers similar benefits, but without any risks.

Disadvantages

  • You could lose your home if you are unable to keep up repayments!
  • Consolidation loans are usually paid off over a longer period of time. Even with lower interest rates, you will pay more in the end.
  • It costs money to settle an existing loan, such as paying the redemption penalties.
  • It costs money to set up a new loan. If a Consolidation Service is involved, their commission can be a significant expense too. You will end up paying more.

Advantages

  • Lower interest rates

  • Lower monthly payments

  • Dealing with a single creditor

There are very few circumstances where an MRA Debt Adviser would recommend a Consolidation Loan. Debt Management offers nearly all of the advantages, without the risks.

Useful Consolidation Links

Wikipedia
MSN Money - Debt Consolidation is a dangerous game
debt management signup

First Name

Last Name

Telephone

Time to call

E-mail

Anti-spam question
What colour is the sea?


Privacy Statement

0800 612 92 23

MRA Business Solutions Ltd, 3 Old Ladies Court, High Street, Battle, East Sussex. TN33 0AH

Our offices are located near Hastings, Eastbourne, Lewes, Brighton and Tunbridge Wells