What does Unsecured Debt Consolidation involve?

Unsecured Debt Consolidation can be a way of pooling all your debts into one simple repayment. But you should talk to the Debt Advice Trust first to check whether this is your best option. We can also advise you about what’s involved in other debt solutions such as IVAs.

Some loans and other debt solutions are only offered against the security of your property or another asset. Unsecured Debt Consolidation is where you still want to borrow money don’t have such assets or don’t wish to use them as security against your borrowing. The Debt Advice Trust can help advise you on the pros and cons of this if it’s the most appropriate solution for you.

Impartial debt advice

One of the many benefits of calling the Debt Advice Trust is that you’ll be talking to an organisation that does not depend on funding from lenders or banks, with fully trained Debt Counsellors who are here to provide you with expert, honest and impartial advice.

Better debt management

Although unsecured debt consolidation can be more expensive than a secured loan, you should still end up paying less every month. Plus, of course, you’ll only have to worry about one repayment rather than different repayments at varying levels and on different dates.

Unsecured debt consolidation FAQs

• Q: If I’m in serious debt can I still opt for unsecured debt consolidation?

  A: It all depends on your circumstances, but an IVA or another debt solution may well still be an option for you. Talk to us to find out more.

• Q: What if I find it hard to find someone who’ll provide an unsecured debt solution?

  A: Once you’ve spoken with us, if we think unsecured debt consolidation is your best route forward then we’ll recommend a trustworthy provider from our Approved Panel whom we know will be able to help you.

More debt FAQs