If you’re struggling to deal with your debt and you’re thinking about Debt Consolidation, read this guide to find out how you can be given guidance and help with your decision.
Contact The Citizens Advice
If you would like to discuss your debt with someone who will be able to offer unbiased advice, you can call the Citizens Advice team on 0843 208 0982. The Citizens Advice team will be able to advise you on the best course of action regarding what you need to do to manage your debt, whether that is a debt consolidation loan, filing for bankruptcy or other actions that will help you manage and pay off your debt. The Citizens Advice team may be able to offer you specialised aid to help you pay off or relieve some of your debt that will allow you to afford to pay off the rest of your debt or manage you finances in a better manner.
Debt Consolidation Loan
If you’re thinking about taking out a Debt Consolidation Loan, you should contact the Citizens Advice team first using the number above for some guidence on whether this is a good action for you financially and whether you can afford it. A Debt Consolidation loan is a personal loan that can be used to pay off all or a lump sum of your outstanding debt in monthly payments. The loan can be used to pay off outstanding debt on your credit cards, store cards and personal loans. The Debt Consolidation loan merges your debt into monthly payments that are easier to manage and lower your monthly outgoings. When comparing Debt Consolidation loans it is important to make sure you can afford the loan as well as check it is lower than what you’re currently paying out monthly to pay back your debt.