Consolidate Debts

If you want to consolidate your debts by joining a debt consolidation program then call the Debt Advice Trust for advice first. The Debt Advice Trust does not depend on funding from lenders or banks and provides a free helpline for people in debt. When you call one of our specialist debt counsellors they will be able to assess your individual circumstances and suggest which debt management solutions would be most appropriate. It may be that debt consolidations are suitable for you although there are other ways such as IVAs.

Debt consolidations involve taking out a single, manageable loan to pay off your existing debt. This makes your life easier in a number of ways. Firstly, if your creditors are chasing you for repayments they will stop, instantly removing stress. Joining a debt consolidation program also means that all of your future repayments will be made to one single source. Often consolidation means that your monthly repayments are reduced which also makes life easier.

You should be aware that debt management solutions other than debt consolidations do exist and that a debt consolidation program may not be suited to your individual circumstances. When you consolidate debts the repayment period is extended and overall you pay back the same amount. Other methods, such as IVAs, actually reduce the amount that you owe and may be better for you.

If you want advice on debt consolidation or any other debt issue then call the Debt Advice Trust now for free and impartial advice.