Debt Consolidation Loans

  • Free Expert Advice
  • No Effect on Credit Score
  • No Fees & Charges
Loan Process

WHAT ARE DEBT CONSOLIDATION LOANS?

Is it enough of pending debts? Do you want a quick and quality solution to get rid of them? Consolidating all the debts is the best thing you need now. Debt consolidation loans are the perfect way to do this.

Debt consolidation is another form of borrowing to erase all the existing loans or debts in the one go. It helps you manage the finances better by merging all debts into a single loan option. You have one single monthly payment to do for the single lender.p>

Options are available on the Government debt consolidation loans and the deals from the traditional lenders in the UK. Not everyone is capable of approaching them due to fixed lending norms.

As a responsible direct lender, LoanPalace can provide you with the flexible debt consolidation loans in the UK to diminish:-

  • Multiple interest rates on debts
  • Hefty monthly instalment
  • The burden of handling multiple companies

These loans may add extra cost for you. Therefore, you should be familiar with all the risks involved. You can ask our experts to choose the best deals, and they are ready with their fee-free advice. Besides, you can also analyse our representative APR to get a better idea.

Debt Consolidation Loans UK

HOW DO DEBT CONSOLIDATION LOANS WORK?

We have vital tips for you to follow before going ahead with the online debt consolidation loans. We have readymade deals for you, but we think it is our responsibility to familiarise you with certain precautions.

  • We offer affordable loans and thus, we expect that you are sure to make the repayments throughout the tenure
  • Try not to borrow more than your actual pending debts. It will create an unnecessary burden on to your finances
  • Stay committed for repaying the loan on time. It will improve your credit profile if it has the blot of poor credit

How Our Loans Process:-

Fulfil eligibility criteria

There is nothing complicated when it comes to debt consolidation loans eligibility. Every UK resident can qualify with either full-time or part-time income.

Apply for a loan deal online

Once you are eligible for the loans, it is the time to start the application process. Fill out a single page online loan application form with mandatory details. Submit the form carefully and immediately.

Pay Off the existing debts

Now you have the desired amount into your bank account. You can use the amount to clear the debts or to do the balance transfer. You can do this in the first month of your loan and start managing the loan in a balanced way.

Make regular loan repayment

You have the affordable loans from us. Make the regular repayments during the loan tenure and enhance your credit rating significantly. You can discuss early with us if you are planning for pre-payment or late repayment. We can arrange the best option for you to ease the situation.

ARE SECURED AND UNSECURED DEBT CONSOLIDATION LOANS BOTH ACCESSIBLE?

Unlike other direct lenders in the UK, our personal loan for debt consolidation is available both in a secured and unsecured manner. The deals on both these borrowings have their specific features. The purpose is similar, i.e. to assist borrowers when they feel overburdened with pending debts.

Secured Unsecured
Gain the opportunity to avail large debt consolidation loans with a higher amount These loans suit best when you need to consolidate debts quickly.
Borrowers have to pledge the asset as the loan collateral. Loans do not require asset and make borrowers relaxed with no fear of losing assets.
The interest rates are lower due to the available collateral. These are higher interest rate loans but seem ideal with instant approval.
Secured loans can be used for both personal and business purposes. Most times, loans are applied to pay off personal debts.
These loans are ideal for people till fair credit score. People with very poor credit, bad credit, CCJ and defaults can apply.

WHY CONSOLIDATING DEBTS IS A GOOD OPTION?

Getting the best debt consolidation loans brings many financial benefits to your favour. It is an efficient way to supervise the existing debts without disturbing your monthly income. See here various benefits of debt consolidation loans:-

  • You can better manage your outgoings

    You can easily manage your outgoings of monthly income with quickly getting rid of existing debts. You can have more relaxation in it through our flexible repayment plans. They allow you to manage the repayments according to the income balance and other expenses.

  • Lower interest rates

    If you do not approach consolidation loans, you have to pay different interest rates of various debts. On the other hand, if you apply for these loans, then you pay only one interest rate and comparatively lower in amount

  • Loan Approval Comes Quickly

    You may feel surprised to have loan approval within 15 minutes. We have made this a reality by offering these loans on same day approval. Not only the approval, but the fund disbursal too comes within 24 hours, giving a chance of quick debts removal.

  • Easier to Manage

    When you take out any other personal loan, you may not have such a peace of mind as these loans give you. These are generally the short term loans where monthly instalments are not hefty. You can easily manage these instalments from your monthly income.

  • Improving Credit Score

    You can have an excellent chance of improving credit score with flexible and easy-to-manage monthly repayments. If you regularly make the repayments till the loan tenure, you can see a significant improvement in your credit profile. It opens up more borrowing opportunities in the future.

DO WE OFFER DEBT CONSOLIDATION LOANS FOR BAD CREDIT?

Lending doors are always tough to reach for people with low credit scores. They struggle a lot and often get a rejection from the mainstream lenders. Perhaps, their inability to get rid of those debts can also be the reason for low credit score.

At LoanPalace, we responsibly offer debt consolidation loans for poor credit people on their financial affordability. These are the high-interest rate loans but more in chances of guaranteed loan approval.

Debt Consolidation Loan

Here are the loan features that you may be curious to know:-

  • These loans do not affect your credit rating. We accept your loan application despite a bad credit score, which means your past credit record does not matter. The approval comes primarily on your recent credit performance.
  • The flexible monthly repayments open the ways for improving the credit scores. You can make the monthly instalment without any hassle of your financial balance. We continuously guide you during the loan tenure.
  • Your credit score does not impact the loan approval, and the absence of a guarantor has no impact. With us, you can easily apply for debt consolidation loans for bad credit in the UK with no guarantor needed.

WHY LOANPALACE TO CONSIDER FOR DEBT CONSOLIDATION LOANS?

LoanPalace is a responsible private lender in the UK, offering loan deals with complete responsibility and dedication. As soon as you familiarise us with your financial mess, we instantly work on it and provide an obligation-free loan quote.

Although there are many, but two loan features are enough to create trust inside you. These make us different from other online lenders in the UK:-

Cheapest
  • No Upfront Charges
  • Competitive Interest Rates
  • No Prepayment Charges
  • Manageable Late Repayment Charges
  • Payment Break up to 2 Months
Guaranteed
  • Affordable Loan Deals
  • Approval on Borrowers’ Income Capacity
  • No Impact of Past Credit Score
  • No Documentation
  • Minimum Obligations to follow

Are you looking for the right debt solution? Choose only a solution that suits your circumstances. Our debt consolidation loans definitely fit your capacity. Apply now and get the approval today.

LoanPalace FAQs

FAQs

Should I Use Debt Consolidation Loan to Pay Off Credit Card?

Yes, it will be a good idea, and the lender does not object to any debt. In fact, it is the best way to prevent your credit score from being down from non-payment of credit card debts.

Can I Get Debt Consolidation Loans with No Credit Check?

No, we will conduct a soft credit check, as a credit check is a mandatory process regulated by the Financial Conduct Authority (FCA). We may consider no credit check only if your current financial performance is satisfactory.

What Details that a Lender asks for these loans?

The lender requires not many but a few details of the borrowers, such as:-

  • Residential Proof
  • Valid email id
  • Income proof
  • Active bank account details
What are the alternatives to Debt Consolidation Loans?

The debt consolidation loan is an effective solution, but it is not the sole one. There are other alternatives, which can be considered:-

  • 0% money transfer card
  • 0% balance transfer card
  • Personal Loans
Which is a better personal loan or debt consolidation loan?

Both these options can fulfil your purpose of debt consolidation but personal loans usually have higher interest rates. In such a scenario, applying for debt consolidation loans as a specific option is a much better option. It has lower interest rates and merges all pending dues without any hassle.

I want personal loans for bad credit near me. Does LoanPalace Offer?

Yes, we do.

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