Fiona debt consolidation is a good solution for those who are struggling to meet their monthly repayments on their credit cards and other debts. It can be very stressful not being able to spend on the things that you want and need to buy. If your situation is similar to mine then there is no need whatsoever to continue to make payments each month. With this in mind, seeking financial guidance or seeking professional help should be considered. However, there are a number of options available to those who wish to consolidate their credit cards.
When looking at getting credit card debt consolidation loans it is important to understand what the various options are available. In most cases those wishing to get relief from their debts will opt for a personal loan with one or two repayment periods. This means paying back the loan in a set period of time. The advantage of this type of loan is that the interest rate is lower than most types of credit cards. However it is important to remember that you are still responsible to make your monthly payments on time and in full.
There are other options available such as working with reputable debt relief companies. These debt consolidation companies will offer a solution to those who have reached a point where they simply cannot keep up with their monthly repayments. These services do come at a cost however, as they generally charge a percentage of any of the amount that is repaid. In many cases up to 50%. If you are unable to find a deal like this with the credit cards and loan companies then working with debt relief companies may be your best option.
Consolidation loans can also be arranged without a personal loan but this will require that you fulfil a credit check. Whilst this is not a necessity, it may be necessary in order to find a loan that offers competitive interest rates. One of the disadvantages of taking out a consolidation loan is that you will have to find a lump sum of money to pay off your current debts and replace them with the new loan. This leaves the borrower open to having their monthly payment increased. For this reason it is often better to arrange for a personal loan to pay off all of your debts at one go rather than consolidating.
A final type of credit card consolidation loan is made available called a house equity loan. These can be useful for those whose monthly budget is less than sufficient for their basic living expenses. These loans are normally secured against the equity in a property. If you have a house equity then you will not be eligible for a personal loan but may still be eligible for a house payment.
It is also possible to get free advice from Fiona Debt Management online and they can help you sort out any difficulties you may encounter when dealing with your credit cards and other debts. Their aim is to make sure that you are able to keep your finances as manageable as possible whilst always remaining financially sound. They also offer debt consolidation loans and advice services. The majority of credit card debt consolidation companies provide their clients with a free no obligation quote. However, some charge card debt consolidation companies may require a fee before offering you a quote.
One of the advantages of a house equity or charge card debt consolidation loan is that you will know exactly how much the various payments are going to be each month. This will allow you to work out whether you can fit them around your existing income and whether you would prefer to transfer all your debts into one monthly payment. It may be that there are other options that would be more suitable to your particular circumstances.
As mentioned at the start of the this article, you need to have sufficient household income to be eligible for an unsecured personal loan. For that reason you are strongly advised to seek the advice of a professional advisor if you are considering taking out an unsecured loan. Most advisors will be able to provide you with free no obligation quotes from a number of high-interest credit card debt consolidation companies. This means that you can compare one of these offers against any other offers on the market. As long as the advisor is willing to discuss your individual circumstances, you will know whether an unsecured loan is the best choice for you.