Looking to consolidate your debts?
- Simplify your monthly bills and outgoings
- Have one convenient monthly payment tailored to you
- Consolidate debts from credit cards, loans and other debts
- Repay your debt at a rate you can afford
Consolidate your debts with our range of solutions
Debt Reducers have many years' experience offering solutions tailored to our customers' needs.
Traditionally these solutions included a range of loans and remortgages. You may still be able to obtain a remortgage or consolidation loan but there are other solutions available to help you out of debt.
We can offer expert, no-obligation advice on choosing a solution which could be right for you.
How do we consolidate your debts?
Our team of UK debt consolidation experts can help you explore your options. Tell them about your monthly commitments and requirements and they will advise you on your most suitable way out of debt, based on your circumstances.
Debt consolidation FAQs:
- What is debt consolidation?
-
Debt consolidation enables you to consolidate existing debts into one tailored monthly payment from a range of solutions. Traditionally people in debt would take out a loan to cover their debts. But now there are many solutions you can use to get out of unsecured debt. These include: Remortgage, IVAs, Scottish Trust Deeds and Debt Management Programmes.
- Why would I want to consolidate my debts?
-
If you're juggling all your debts and are finding it hard to meet your monthly payments, or, you're paying out more than you can afford, you are probably finding it hard to manage. By consolidating your debts, you could have just one monthly payment tailored to your circumstances.
- Do I have to be a homeowner to consolidate my debts?
-
You do not have to be a homeowner to consolidate your debts. There are many solutions which could help both tenants and homeowners to manage their monthly payments.
These solutions include Debt Management Programmes, IVAs and Scottish Trust Deeds.
- Are there any drawbacks to debt consolidation?
-
It depends on the particular solution that's best for you.
Generally, your payments are more manageable but you will be paying them for a longer period of time. This means you may end up paying more in the long run, but you will be able to manage your monthly finances. Each solution has its own benefits and drawbacks, speak to an adviser or click a solution below to read more.
- Debt management
- IVAs
- Trust Deeds
- Remortgage
- Will my credit rating be affected?
-
Entering a debt solution will affect your credit rating in the short term and might affect it in the medium-to-long term. In the case of an IVA or Trust Deed, your credit rating will be affected for 6 years. Remortgages or debt consolidation loans shouldn't affect your credit rating so long as you stick to the terms.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. DEBT CONSOLIDATION MAY INCREASE THE AMOUNT TO BE REPAID IN THE LONG TERM. Calls may be recorded for training and monitoring purposes.
Back to top
Expert advice from Debt Reducers
We are members of DEMSA whose code of conduct is approved by the Office of Fair Trading. Our advice is completely confidential.
Key information & fees
For more information on the fees involved with each debt solution, please click here.