Consolidating debt uk
Unsecured loans can also be used to consolidate existing debts, making them easier to manage and pay back.
If you have missed several payments, then you could consider opting for an unsecured loan to manage your debt repayment before it has a negative impact on your credit score.
Our quick online application process will help you find the best loan option available from our panel of over 20 providers, and once you’ve chosen your preferred provider, we aim to get you the money you need as quickly as possible.
Once you’ve applied, a member of our specialist team will call you to request some additional details and then we’ll do the work for you!
Unlike a personal loan, a car loan can only be used to pay for the purchase of the car.
Unsecured car loans often require a good credit history as the lender will not be able to repossess the car or other assets if you fail to make the payments.
As a homeowner, you may be considered a lower risk to lenders than if you were renting a property.
For free, impartial advice on managing debt you can contact the National Debtline or Citizens Advice.
If there have been occasions when you have failed to make credit payments on time, have missed payments entirely or have been referred to a debt collection agency, then you are likely to have a lower credit rating.
If you have been turned down by the bank, then an unsecured loan can provide an alternative option for borrowing money.
An unsecured loan is often easier to apply for, and you will normally receive your loan amount faster than if you had applied for a secured loan, as the lender will not need to check the value of your assets for security.