Consolidation of all debts into one loan of which is paid back monthly. By consolidating your credit card, loan and other debts you could end up with just one manageable amount to pay each month. The loan spreads out the payment of debts over a longer period, than say the Individual Voluntary Arrangement process. sometimes of up to 20 years.

A debt consolidation loan secured against your home needs careful consideration and there are further choices such as whether to re-mortgage your home, effectively paying off your debt over the life of your mortgage, or whether to take out a debt consolidation homeowner loan (also known as a secured loan).

Our experienced advisors will be able to guide you through the debt consolidation decision making process, offering you the best advice on which debt consolidation solution is right for you and then shopping around to get you the best deal.

Briefly this is the consolidation of all your debts into one loan which is then paid monthly, often over a long period of up to 20 years. Unfortunately with this option you may be accruing interest on your loan so, although you will have spare income, over the years you may be paying back much more then your original debt.

However, with this option loans attract compound interest so long-term you are paying back much more then the original debt. You should also note that it can be difficult to obtain credit for the duration of the loan.

See just how much you could save with our simple debt consolidator calculator.

Debt Consolidation Calculator
Instructions: Starting with the first line of entry fields, enter each one of your debts, along with their corresponding principal balances, interest rates and monthly payment amounts (the last two columns will be filled in by the calculator). Once you have entered all of the debts you wish to consolidate, click on the "Calculate Current Debt Cost" button. Next, enter the consolidating loan's interest rate, term and any origination fees that might apply and click the "Calculate Consolidation Loan Costs" button. IMPORTANT: In order for the this calculator to work, each debt must have the four left-hand fields filled in (for interest-free debts enter .001 just to satisfy the required interest-rate entry). Also, be sure to enter only numbers and decimal points in the numeric entry fields. Dollar signs, percent signs, commas and spaces will cause an error.
					Calculated Columns
	Name	Balance	% APR	Payment Amount	Interest Cost	Number Payments
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	Totals
Consolidation Loan Terms
Enter the Consolidating Loan's Annual Interest Rate (APR):
Enter the Consolidating Loan's term (number of years):
Enter total of any Consolidation Loan Fees:
Results				Without Consolidating	With Consolidating	Difference
Total of Monthly Payment(s):
Months until debts are paid off:
Total Cost (Interest Charges & Loan Fees):
Summary

In order to help you keep your costs down to a minimum, complete the form below and we will contact you.

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Total Debts:	Up to £5,000 from £5,000 to £10,000 from £10,000 to £15,000 from £15,000 to £20,000 More than £20,000
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