It’s easy to over-look the amount in monetary value you are paying in interest to your creditors each month. If you take for example a £15,000 loan at 7.7% - a fairly decent rate for an unsecured loan. In month one you will be paying £96.25 in interest in the first month! Now this does work on a sliding scale, if your contractual payments are £225, in the 2nd month your interest in month two would be £95.42, £94.59 in month three. In five years interest would total £4113.00. Looking at credit cards, If you maintained three credit cards totalling £9,000 at 15.9% interest you are paying £119.25 per month in interest. Now some people may well be aware of this and others maybe not to the same extent, but it certainly does pay to be in the know of how much you are paying and that if you are struggling to maintain payments whilst also having interest applied on your accounts we are able to offer a free no obligation chat to establish what options are open to you to both consolidate your debts and reduce the interest charges you are paying each month so as to bring you into a debt free life that bit quicker.
Credit that cannot be managed or is not being repaid requires debt consolidation. Debt consolidation offers borrowers with a chance to repay their high interest loans at low interest rate. You must be thinking, ‘it sounds good, but how is it possible.’ How can high interest loans repaid at low interest.
This is how debt consolidation [...]
Debt consolidation is often a last resort for people who are in extreme debt and trying to avoid bankruptcy. Many people who are not in danger of bankruptcy, but have debt on high interest credit cards may also choose to consolidate their debt. Debt consolidation is defined as the process of organizing loans and debts [...]
Conditions apply. Please note that repaying debt over an extended period may increase the total amount of debt to be repaid. Transferring debts to a financial management plan will affect your ability to obtain credit in the short term. Your ability to obtain credit may also be affected in the medium to long term. Dissolve Debt Ltd are fee charging financial management consultants licensed under the Consumer Credit Act 1974, Number: 563918
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