Debt consolidation combines debts, including loans, credit cards, store cards, catalogues, overdrafts, or any other outstanding bills, into one single loan. The aim is to simplify your repayments and reduce the anxiety of managing debt.
The types of debts you can consolidate include:
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However, consolidating existing credit commitments should not be considered a cure-all. If appropriately used, restructuring debts through consolidation can help you get debt free faster by reducing the interest burden of existing borrowings and bringing repayments within budget. On the other hand, if there are more serious underlying problems, it may only grant temporary relief before the creditors become unmanageable again.
If you have used our online application form, we will contact you to run through your income and outgoings and discuss your options so you can make an informed choice. At Debt Support Direct, we offer all statutory debt solutions in England, Scotland, Wales, and Northern Ireland so that you can choose the debt solution tailored to you and your circumstances.
Our debt advice is non-judgmental, and friendly so if you are struggling with debt, speak to one of our experienced debt experts for a confidential chat on 0161 549 9848.
Simply complete the form to see if you qualify for any of the available debt solutions.
A friendly & experienced advisor from DSD will contact you to discuss yourc ircumstances.
They will explain all your options, so that you can decide which solution works best for you!
An informal arrangement between you and your creditors that lets you make lower monthly payments, whilst still paying the total amount of debt.
A formal agreement between you and your creditors. You make affordable monthly payments over fixed period with debt written off at completion.
A Debt Relief Order (DRO) is a formal debt solution for those who have no assets such as car or property. Eligibility criteria does apply.