Pay off multiple loans

Pay off multiple loans, We specialise in Debt consolidation loans and if you have debt and want one simple loan talk to us today

 

Have you – or someone you know – ever wished you could wrap various loans into one, clear form of credit, with one, clear monthly payment? We are about to explain how to pay off multiple loans, and the advantages of clearing debts and leaving yourself with just one amount to find each month.

Searching for ‘How to clear my multiple loans’?

The first thing to be clear about is that you are far from alone if you have ended up owing different amounts to different organisations!

Let’s face it, money management is never easy. Juggling cash coming in, against all the outgoings you have for you and your family, is tough. Especially as the coronavirus pandemic left many with additional household budget problems. It is very common to have a wide range of demands on your income – and not enough income to cover everything that you need and want! This is why so many people find themselves with more than one loan.

The sort of credit covered when paying off multiple loans

The various loans you need to manage each month can be various different forms of credit. This could include, for example, mortgages, personal loans, credit card debts, payday loans and bank overdrafts. Lending money from various organisations – in various forms – can get you through the tough times. However, it can quickly become a problem in itself. If this is true for you, it is well worth exploring the advantages if you pay off multiple loans.

Pay off multiple loans to simplify your finances

If you are considering ‘how to clear my multiple loans’, there’s a good chance you have already realised that there are substantial benefits if you take this path. The most important advantage is that you have one clear amount to pay out each month. This payment will be regular and will gradually settle your overall debt.

When you pay off multiple loans by consolidating them into one amount, it can bring peace of mind. No more worrying about whether you are keeping on top of lots of different payment dates and amounts!

Having various loans running at the same time can create more opportunity to miss payment deadlines – due to forgetting or not having enough cash to stretch to them all. Especially if the payment dates of your multiple loans are spread across the month. This can leave you feeling anxious all the time, and constantly aware of needing to keep your bank balance in the black to meet deadlines for different loan payments.

Having one loan and one amount to pay makes it easier to keep on top of your debt management. You can even arrange for the payment date to coincide with the day you get paid or receive benefits.

How can I arrange to pay off multiple loans

As we’ve already mentioned, there is nothing unusual or embarrassing about ending up owing money to different organisations. With so many ways to get credit – and so many demands on your money – it is easy to end up with more than one type of loan. So, what’s involved when you use Debt Consolidations Loans to pay off multiple loans?

The first thing you need to know is that there is not just one single ‘fix all’ for clearing multiple debts. We work hard to find various ways to clear options for our clients. The first step to getting your money management sorted is to get in touch with us.

Then, you need to give us a clear picture of your multiple lending arrangements. Remember, this could include everything from a household appliance bought on credit, to sizable personal loans with banks. Don’t be put off if you have a bad credit score or history of defaulting on payments. We can still help.

Once we have a clear picture of your finances, we can match you to the best way to pay off multiple loans; finding an option that suits your budget and the demands on your cash. Among the priorities of our assured and regulated debt consolidation service is to put you in control of your finances, so we will find a way to clear multiple debts that is practical and possible for you. This will include a manageable repayment amount – taken from your bank on a regular, monthly basis.

Will it cost a lot to pay off multiple loans?

Customers often find that they enjoy a favourable interest rate when they pay off multiple loans and group them into one credit arrangement. This is because the financial products we recommend often offer an interest rate that’s better than the ‘average’ of all your multiple loan agreements. This is especially true if your multiple loans include costly credit card terms! Importantly, we do not charge for our service either. So, it is a free way to clear multiple loans!

Getting a better credit score, from clearing clusters of loans

Grouping multiple debts into a manageable amount can help you with more than just peace of mind and a simpler household budget. Paying off multiple loans using our quality controlled service could also improve your credit score! This will help you in the future if you once again need to find a single loan that helps you through a financial shortfall, or you decide to take out a mortgage.

We have a friendly team, who are on hand to help assist you with any questions or queries you may have when it comes to looking to borrow. Whatever your situation we can help you are not alone, thousands of people across the UK speak to us monthly to help them with financial issues.

Pay off multiple loans 

A consolidated loan might be the perfect way to ease the burden of your multiple loans, we can help

If you have several credit cards containing varying amounts of debt, you will almost definitely have several direct debits or standing orders leaving your bank account each month to account for them. A consolidated loan takes all of those repayments and combines them into one payment.

No matter how many multiple loans you may have, we are able to help, talk to us today.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to have one simple monthly payment. 
  • Reduce monthly outgoings
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    By having one simple monthly payment which you can afford this can help with improving your credit rating

 

Benefits of taking out a consolidated loan

A consolidated loan could provide just the peace of mind you crave for your credit card debt, but we firmly believe there are some additional, inescapable benefits of this type of loan:

  • A fixed interest rate. Chances are, your credit cards will all have different interest rates, but a consolidated loan has just one that is agreed for the period of the loan.
  • Just one monthly payment. Imagine that – just one payment to keep in mind, and a guarantee that it won’t change for the length of the term.
  • No missed repayments. When you have more than one credit card it’s easy to occasionally miss a repayment, and that can seriously harm your credit score. A consolidated loan eradicates that possibility entirely.

Why we’re the best

Why would you choose Debt Consolidation Loans over our competitors? We think the reason is simple, and that’s because our service is as simple as it should be!

We also make the decisions as they should be made – by humans, rather than software. We’ll take your situation into account and do everything we can to consolidate your credit card debt into one monthly payment.

Contact us

Let us help you reach a debt-free future! To find out more about our consolidated loans for credit cards, just get in touch with our friendly team, today.

If you are facing serious money issues for free impartial advice, please visit the money advice service.

Why debt consolidation?

  • Improve your monthly budget
    A debt consolidation loan will enable you to group all your existing borrowing and the monthly repayments are easier to manage.
  • Reduced overall repayments
    A debt consolidation loan could even save you money each month if the interest rate is less than the combined total interest of the previous loans.
  • Improved credit rating
    The simplicity of repaying a debt consolidation loan means that you are more likely to repay the debt on time every month. This will prove you to be a responsible borrower, which will have a positive effect on your credit score.