Debt Consolidation Loans

Do not panic if you are in a financial bind due to debts. You can get a 100% obligation-free loan to sail through the debt problem. Fetch a free quotation without further ado to take advantage of custom-made loan offers.

How Much You Want to Borrow

Effective loan support for debt consolidation up to £10000

Have you fallen short of keeping up with payments of multiple debts? Despite trying various means to arrange funds for debt payments, there is no improvement in your situation. Tricky financial spots like yours need a straightaway solution like debt consolidation loans.

Consider combining all the pending payments that could be of credit cards, other loans, store cards, etc., into a single loan. Think of getting a fair opportunity to borrow a suitable loan amount with Financealoan. There is no need to tackle one debt at a time when you can get rid of it all in a single step.

The repayment structure lets you merge multiple debts under a single loan. Moreover, the loan term can extend up to 60 months. Meaning that you can repay at your ease in a monthly pattern without facing the compulsion of paying in full and in one go.

The financial turmoil might seem to calm down once you get access to these loans. However, do you know that taking up loans also needs some preparation? These are:


Review if your budget can accommodate money for debt repayment. Prioritise paying off by blocking a portion of your income. Monitor the progress for smooth payments.

Cut back outgoings

Keep your credit card out of your sight till you repay loans. Prevent yourself from going ahead with big purchases because you must save money for repayment.

Be consistent in repaying

This financing arrangement just means the transfer of debts to a single loan. Therefore, you cannot afford to stay behind the repayment schedule.

What are debt consolidation loans?

These loans are a perfect way to resolve debt issues by refinancing. Instead of dealing with multiple interest rates, just pay attention to a single rate. Besides, this loan provision downsizes the amount that you have to cover monthly.

Although you can opt for unsecured personal loans to consolidate debts, it should be only after considering the pros and cons of this decision. The interest rates might not be as feasible as the purpose-specific debt consolidation loans. Depending on your financial circumstances, you should decide the option that is best fitting for your borrowing reasons.

Gaining access to debt consolidation loans is also possible for a student who is devoid of a stable income source. Nevertheless, they will be issued a small amount of loans to manage the debt payments. Having any form of earnings will be critical to strengthen repayment possibilities.

Does a debt consolidation loan accept any credit scores?

The good news is that these loans are accessible to anyone who has a good, fair, bad or even zero credit history. For this reason, a hard analysis of your credit status is not a strict condition here. On the flip side, a soft verification becomes critical for us to validate your affordability.

It means you can go ahead to apply for loans without disclosing your scores. This mild procedure will not leave any impression on your credit profile. However, your limited income and poor scores can impact a sure-shot decision lending decision.

Therefore, guaranteed debt consolidation loans with bad credit might not be a reality. Instead of believing in these marketing tactics, you must work on enhancing your approval possibility. If you are good in your efforts, you will be able to find out the relevant deals on these bad credit loans. Nevertheless, keep these tips handy.

Responsible payment handling Establish a good financial rapport by paying all the current bills on time. It will be reflected in your bank statements.
Sincere credit improvement efforts Motivate yourself to get good credit scores. Take the necessary steps to achieve this purpose as soon as possible.
Know your limit Stay away from selecting any random loan amount. Make sure that the amount is not higher than what you can pay for.

How can loans help me consolidate debts?

You must check if debt consolidation loans available on instant approval are effective in processing the racked-up debts like pending holiday bills, medical expenses, credit card dues, outstanding rent, etc. After this, you are already a step ahead, but a few more validations are needed to make borrowing a sound financial decision.

It should be based on the features or additional benefits you can avail of from these loans.

  • Make payments seamless

    There is no need to tackle multiple payments separately. Consolidate them into one loan so that you can manage payments in a stress-free way. Keeping track of separate interest rates is no more required. Single payments can downsize the chances of defaults. If you want, you can automate the payments so that the amount will be deducted on its own without your intervention.

  • Reduced interest rate

    If you are looking for low-interest personal loans for debt consolidation, Financealoan can help you. We will derive a practical rate against your preferred loan amount. Saving surplus money on interest is possible if you do not opt for an extended duration of repayment. Interest applies to the number of months set for repayment.

  • No influence of a guarantor

    Getting debt consolidation loans with bad credit and no guarantor from a direct lender like us is possible. Your affordability will have all the attention as it can help us evaluate whether you have the necessary financial circumstances to pay back loans on time. The same thing cannot be figured out from your past credit status. If your financial condition allows you to support repayments, there is no need for producing a guarantor.

  • Instant boost in credit score

    These loans can solve your credit issues. When you disburse pending payments with the help of these loans, your credit scores will climb up in ascending order. You can use these loans as a strategy to improve your credit status.

Should I choose unsecured debt consolidation loans?

The huge burden of debts might compel you to search for the best loans for debt consolidation. In reality, no such option is present, but you have the power to decide if getting loans with or without collateral will be helpful for you. Delve deeper to have a comparative study of both options.

Collateral-free loans

  • Unsecured debt consolidation loans do not need you to live with the fear of losing assets.
  • You can get access to a comparatively smaller amount.
  • Prepare for higher interest rates or arrange a guarantor if you have very low scores.
  • The tenure for repayment will let you manage payments conveniently but might not be a longer one.

Secured loans

  • The possibility of losing possession of assets is there with these loans.
  • Since you will provide security, you can get a bigger loan amount.
  • Your assets, like a home or a car, will make up for the risk of poor credit scores.
  • These loans let you pay money back over years without any exertion.

Is it possible to consolidate debts into one long-term loan?

Debt payouts that involve significant amounts, like in the case of mortgage payments, are easy to settle with long-term loans for debt consolidation. Situations unlike this might need you to take care of smaller debts like pending bills, house rent, etc. You must obtain short-term funds for these circumstances.

How do you know which option will suit you the best? You can refer to the breakdown of steps so that repayment is not cumbersome for you in the end.

Actual volume of debts: This aspect should be one of the determining factors. Find and round out the total amount of debt you owe. Paying attention to the debt type is also crucial. With the estimate, you can finalise the type of loan you must get.

Monthly payment you can afford: After confirming the loan form, you must work out the monthly payments. Keep the interest rate in mind to know the exact amount you have to pay. The repayment pattern should be feasible to your financial capability.

Understand your numbers: Analyse the free loan proposal for more clarity. We assure you that actual figures will not be dissimilar but rather be very close. With this idea, you can ascertain the ideal loan option that can bring in ideal terms.

Validate financial whereabouts: If you are striving hard to minimise debts, choosing the long-term alternative would be best. This way, the monthly payments would be small and manageable for you, as the loan term will spread over the years.

As an experienced lender, Financealoan forever resonates with the idea of lenient lending. We try to make the conditions as flexible as possible so that borrowers can qualify on realistic terms and conditions. If you also feel this way and need immediate loans for debt consolidation, tap below.

Frequently Asked Questions

Can you get loans for debt consolidation on pre-approval?
Why you might not get a bank loan to pay off debt?
Are loans for debt consolidation useful for business?
Are debt consolidation loans available on instant approval?
What are the other ways to handle debts?

Debt consolidation loans are not the only way you can take control of your debts. Always watch out for the best opportunity that can appear in the following ways:

  • Zero-balance credit cards
  • Help from non-profit organisations
  • Snowball method for smaller-sized debts
  • Avalanche method for costly debts
  • Saving rigorously by allowing only vital payouts
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