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Be realistic and ask yourself whether you are looking for a more convenient way to manage your debts as opposed to trying to stave off a potential financial disaster.If your situation is more likely to be the latter, perhaps debt consolidation loans are not the way to go.If you have more than three debts and your creditors want different amounts of money at different times of the month you may find it difficult to co-ordinate your payments in a way that works with your budget.If this is the case, consolidating your debt into one easy and affordable loan may well be the answer.One of the biggest mistakes that people make is assuming a consolidation loan will be cheaper.This is not always the case and interest rates will vary depending on your credit reputation and the lenders assessment of your application.You should note that whilst creditors have an obligation to reasonably consider hardship relief, they are not compelled to grant you relief.
Let Debt Fix guide you through the process and present suitable and affordable options to you today so that you can once again feel in control of your finances.
The new laws mean that potential credit providers now have access to more comprehensive information about your level of indebtedness and more specifically, the way you manage your debt.
Until now, credit providers could only see your personal details, credit infringement information and the amount of times you may have applied for credit (assuming that the credit provider made an enquiry).
Consolidating debts may well be the answer to this issue because, by rationalising your many (smaller) debts and having one loan to manage, it stands that it would be easier to juggling your repayments and therefore there is less risk of you paying your debts late and thus decrease the likelihood of any adverse credit reporting.
Naturally, there are some consequences which also need to be considered when deciding whether or not to consolidate.
Once your debt is consolidated the difficulty in juggling several commitments will be relieved and you can once again feel on top of your finances whereas before it may have been a struggle.