The most suitable way to put a stop to existing debts.
Representative Example: Loan amount of credit: £3,000 for 5 years at £ 57.86 per month. Total loan repayment amount of £3,471.54. Interest Amount: £ 471.54. Interest rate: 5.9% p.a. (fixed). 5.9% APR Representative.
The worst effect of keeping debts for too long is a complex situation where you have to deal with multiple payments. Since you are already going through a tight financial condition, managing funds for these payments is too hard. A loan for debt consolidation purposes might be a good choice for you.
Why should you consider this type of loan? It allows you to club together all the debts and pay through a single payment. While the entire amount you pay will remain the same, you will get relaxation on the interest rates. Onestoploansolution can act like a bridge between you and these loans.
Personalised loan deals make it possible to fetch loans according to your preference and financial capacity. We have made these loans more convenient by keeping them open for poor credit borrowers. Debt consolidation loans meant for bad credit people in the UK are accessible from £500 to £10000.
It will be easy for you to roll up past debts by getting a comfortable amount. On top of this, you do not have to take stress about repayment that has terms varying from 1 year to 5 years. You can see that the duration can be an expanded one. It is expedient enough to let you repay in a hassle-free manner.
If you are looking for ways to handle the existing debts, moving them into one place can make things easy. These loans can help you achieve this target by making payments more manageable. Instead of paying different lenders, you have to deal with a single lender.
The biggest perk of having this type of financing is that the interest amount will downsize. Get in touch with us if you want to take advantage of this facility. We look forward to helping you manage past debts in the most innovative ways.
Do not think that you can get these loans to discard debts! These loans facilitate the converging of debts at one point. A few crucial aspects that must not miss your attention are:
We know some confusion can trigger in your mind regarding these loans and debt settlement or management assistance. Both might sound similar, but there are traces of dissimilarities that you can easily spot through this representation.
| Debt consolidation | Debt settlement |
|---|---|
| Combines all the debts into one | Settles to a comparatively less amount through negotiation |
| Impose comparatively less interest | Impose low to zero interest |
| Helpful in enhancing your credit stature | A settled account might project some negative impact on your credit history |
| You need not have to face any lawsuits | Dealing with debt settlement includes lawsuits, also |
| These loans are comparatively easy to obtain | It is tough to find a suitable creditor |
We always encourage our borrowers to validate if poor credit loans are the best among the available debt consolidation loan options. It shows our fair approach. We need to display loan solutions for the sake of the purpose.
Onestoploansolution wants to become your financial companion by letting you make the best loan choice. It is doable if you closely note a few points like:
Figure out the amount you owe before reaching out for the desired loan deal. Consider conducting a deep analysis of the different types of debt you carry.
Remember getting a loan and repaying on time will be beneficial. Thus, assess your financial capacity so as not to miss a repayment.
Adjust the loan amount based on your preference. It will help you determine the rate that would be most suitable for you.
Different types of borrowers contact us expecting to get diverse options for loan assistance. A consolidation loan can be useful for poor credit people in many ways, provided they validate if it perfectly matches their requirements. This has led us to diversify our loan offerings so that we can arrange different types of opportunities for various borrowers.
We have categorised our loan offerings in two ways so that we can live up to your expectations.
| Secured Loan | Unsecured Loan |
|---|---|
| These loans allow you to borrow money by pledging assets like a home or car. It is applicable for someone who needs a comparatively large amount of loan. The most significant advantage of getting this loan option is that you can expect a lower interest rate. | With us, you can avail of debt consolidation loans as unsecured money and even with bad credit. You can skip asset pledging formality in the case of these loans. Get these loans purely based on your affordability. |
| However, the scariest setback of secured loans is that you will lose possession of assets if you default on loans. You must get these loans at your own risk. | The fear of losing assets will not disturb you when you apply for these collateral-free loans. Although rates remain high with other lenders, you can search for competitive rates by getting in touch with us. |
Bad credit consolidation loans are an exclusive opportunity designed to benefit a special category that faces rejection most times. Therefore, as a poor credit borrower, you must feel encouraged to contact us for loan help. It is because we are ready to welcome you with open arms.
You are in safe hands when you are with us. We try to amplify the benefits you can reap as a poor credit loan aspirant by getting debt consolidation loans. These are:
No asset requirement
Unsecured debt consolidation loans available for a bad credit person allow you to borrow without losing possession of your assets. These loans are an apt choice if you cannot provide any costly asset like a home or car against the loan amount.
You can overcome two major obstacles with these loans. One is the collateral factor, and the other is your bad credit limitation. An all-rounder loan can address the financial problems of different types of borrowers with different capacities.
Allowance for convenient use
Consolidation loans with poor credit acceptance facilities do not tie you up to specific purposes only. You can choose the debts you want to clear off. There will be no compulsion on you to go ahead with selective debts.
We will hand over the money to you to fulfil the essential purposes. We will not enquire how or where you will use the loan money.
Speedy response time
We know how painful it is to wait after submitting the loan application. Every second counts when you are in a hurry. With us, you will not have to go through the pain. We will make sure to process your request as early as possible. Compact steps help us fast-forward the process of lending.
Lower monthly repayments
You can enjoy flexible repayment conditions that spread the payment over an extended duration. This facility makes it easy for you to repay comfortably and without strain. The loan term does not concentrate on a one-time payment pattern.
You can pay back in small amounts till the repayment term ends. This arrangement has simplified the process for borrowers like you.
Assistance with realistic rates
Can you imagine getting loans at feasible rates with a bouquet of advantages? You need help to think in this direction while applying with a traditional lender. However, it is possible in our case.
We assess your affordability to ideate loan rates that should fit your budget. We charge little just because we will provide so much convenience.
You just have to complete some precise online steps to fetch bad credit debt consolidation from direct lenders in the UK like us. This factor sets us apart from traditional lenders. A hard copy application form needs to make sense when you apply with us.
With us, the loan process gets more streamlined. You can skip the chaos of the traditional loan application process by going ahead online. Follow these steps to get started with us:
Collect the form online
Unlike in the past, you can access the application form with a few clicks on the mouse. You will not have to visit any bank branch to collect the form. You can quickly get it right here.
Enter fewer details
Completing the application will not take much time. The form is relatively short and asks for only vital information relevant to us. Thus, you must provide correct personal information.
Go ahead with the submission
The final step is submission. Your application will reach us after that. Since nothing can be done once we receive it, you must cross-check the form carefully before clicking on the submit button.
We make sure to get acquainted with areas a borrower would struggle in a financial emergency. We have moulded our services to fit your requirement. We have tried to acquire all the necessary expertise you expect to see when getting financial help from lenders. These are:
Reliability: Our lending practices are according to standard norms. As a lender, we always curate loan offerings that should serve you in every possible way.
Clear responses: If you approach us to clear any confusion, we will help you with clear communications. We only send simple responses and always come up with clear and informative details.
Speediness: Our working procedure is dissimilar from traditional lenders. We make it a point to provide you with loan assistance in the least possible time.
Disbursal within less time: Once we go through your application and it matches our criteria, we only hold it for a short time. We practice the necessary steps to hand over money without many layovers.
User-friendliness: As a borrower, you must complete the basic steps that are effortless and simple. The best part is that these steps are easy to understand also.
If consolidating a loan is not suitable in your case, you can look for alternatives, such as a 0% balance transfer credit card or looking for help from debt charities. With the first option, you do not have to pay any interest, while the other alternatives might burden you with a heavy interest rate. Shopping around for the best option is mandatory.
No, you will first receive the money after approval. After that, you can pay the needed amount to the lender. The loan money will not get directly transferred to the lender. You will have to take care of the debt payments once you get access to money.
We will have to levy additional charges if you fail to pay back loans within a specified duration. Late payment is not going to be beneficial for your credit scores also. Try to prevent such happenings by planning for repayment before taking out loans
Getting loans will not have any adverse effect on your credit scores. However, falling behind the term decided for loan repayment will harm your credit rating. On the other hand, the timely loan payment will work in favour of improving your scores.
You can send out a loan request if you want to get an idea about the overall cost you will incur in the case of these loans. You can click on the 'Contact Us' page to fill out a form where you can put in your requirements. We will review it and get back to you with an estimate.
