Consolidate the debts and avoid unwanted phone calls

When monthly outgoings towards old loans increase substantially, then you must get rid of those loans while you consolidate the debts. The debt consolidation process can offer you a solution of the problem. Then you can rebuild your financial status in a positive manner. When you consolidate the debts like your old unsecured debts on unsecured loans and credit cards implies that your balance payments will be merged into single payment. This new payment amount is usually of low monthly amounts. Thus, you are relieved from the pressure of defaulting in the repayments and you are also no longer worried about the lenders knocking at your door.

These advantages, however, can be availed on taking help of some financial experts and professionals of the field to consolidate the debts. You can find number of companies, which are offering debt consolidation services and loans for bad credit. They assess your current financial position including the possible amount payments that you are to make along with interest on it. Then, the financial expert will arrive at an amount that you are comfortable with in your current source of income.

One of the features of these consolidation services is to negotiate with your lenders for reducing interest rate on your old payments. The professional will take a repayment plan to your lenders, who usually agree to it. Thus not only interest rate is reduced, but total debt burden is also lowered to some extent. Then, all you have to do is to make low monthly payments to the company that has taken the charge of your existing payments. The company will disperse the money among your in regular basis. However, you should make sure that your lenders are being paid on time. You can also take the unsecured loans for consolidation purpose if you do not want to risk your property.

Surrounded by multiple debts, try debt management plans

Debt management plans have become the need of the hour especially at the time when the whole United Kingdom's loan market is going through a stage of depression. Yes, the phase of 'credit crunch', which has been the result of the lenient policies, that were adopted by money lenders of UK , in the anticipation of earning huge returns in a short span of time. Due to soft loan policies, many people came forward to avail loans but then failed to repay back when it mattered the most. Most of these defaulters were the people who were surrounded by the multiple debts. At that time, the concept of debt management plans really came handy for people who were facing this problem.


These debt management plans are the set of effective policies that can be applied in case if you are facing the problem relating to outstanding loans, or debts. These so called debt management plans are being offered by almost every financial authorities across the whole UK. You can also take the help of debt consolidation loans, where all your outstanding debts and loans will be consolidated together, and then you can avail another loan (of course, at much lower rate of interest) to pay of them of. Not only that sometimes, the authorities who specialise in this field, can also negotiate on your behalf, with the lender thus persuading him to waive off some outstanding amount or accumulated interest.

The best part of this debt management plans is that they prevent you from any kind of stress or tension. Also you don't need to convince numerous creditors in a single time. Since the rate of financial literacy is quite high among the people of UK, therefore you don't need to worry or panic if you are faced with the above mentioned problems pertaining to the aspect of finance. You can even take the help of Internet, which is a cost-effective and easy method.

Feeling financially tense, go for debt management plans

Facing problems relating to finance is the part & parcel of life of a person. However when there is grievous financial shortcoming, people tend to take the help of an outside agency such as money lending authorities and banks. But situations sometime take drastic turn and prove to be difficult to handle like in the case where people fall prey to the problem of multiple debts and outstanding loans repayment. It can be a nightmare for any one. But now you can face these problems with confidence as debt management plans are here for your help. But before that a question arises “ what is this debt management plans?” The answer to this question is that, these are the plans comprising of effective schemes that can be applied over a situation, where the concerned person is facing the problem, mentioned above.

These debt management plans are the ones that are now being offered by almost all the financial authorities across the whole of United Kingdom. A distressed person can certainly take the help of these so called authorities and seek a permanent solution to it. The debt management plans offered by these authorities can be relied upon, since the advices and suggestions offered under these plans, are from the experts themselves. These organisations also help the person to negotiate with the lenders and sometimes even pay on their behalf. But in return the borrower then will have to repay to the authority, but at quite low rate of interest. Some authorities even suggest debt consolidation loans as a part of these debt management plans. These loans are the loans that are availed to pay off other outstanding loans and debts.

Hence, if you want to get relieved from all kinds of debt related problems, go for debt management plans.

IVA loans service for your unbearable debts

The IVA loans services are specifically designed for those people who find there debt burden beyond control. It is a cost effective alternative of bankruptcy. The Individual Voluntary Arrangement, or in short IVA, is a formal debt solution specifically designed to assist a person who is struggling with unaffordable personal repayments on previous debts. The agreement does this by restructuring the expected repayments to a new affordable monthly payment. It helps the debtor to keep up to date with the priority expenses, such as loans against residential property like a mortgage or rent payment, and essential living cost. This agreement helps the debtor to lead a life without the fear of legal recovery action being taken against them by their unsecured creditors.

As the IVA is a formal arrangement, it protects both parties(lenders and creditors) from trying to make adjustments to the arrangement once it has been agreed. An IVA stops a debtor being harassed by their unsecured creditors. This is because one of the fundamental clauses of the IVA stops creditors from contacting the debtor directly. Once the IVA has begun, all correspondence regarding repayment must be through an insolvency practitioner. The insolvency practitioner is chosen by the borrower according to his choice to assist with the IVA proposal, and the insolvency practitioner oversees or supervises the IVA for its full term.

The IVA loan services will, under normal conditions, last for a term of 5 years. After that time frame the debtor will be considered debt free, even if they have not been able to repay the full original level of debt. This service is especially ideal when the debtor has a property they need to protect from their creditors and repossession. This is because once the IVA has been agreed, and so long as the debtor sticks to the IVA norms, the unsecured creditors are unable to force the sale of the property. Instead the lenders settle for as much equity as can be released through a standard re-mortgage.

Consolidate your debts and live a life of peace

Consolidation is recommended when you have made your e your best efforts to return to a debt free life. If it is being used to reduce outgoings of the applicant so that further credit can be afforded. It is a fact that a debt consolidation loan is not a solution but just a stepping stone to financial ruin. When you consolidate debts into one loan plan, normally a lower interest rates can be achieved. The consolidation process results in lower monthly payments. For many people and many adverse financial situation this is the cheapest way to solve problem debts.

Consolidating high interest unsecured loans, credit cards and overdrafts etc. using a debt consolidation loan can save a significant amount of money by reducing your monthly payments into one lower monthly payment. This not only reduces your monthly outgoings , but also helps you to have an end date when your loan will be paid off. Even if you have missed payments on previous credit arrangements in the past or have a poor credit history, lenders in the UK loan market still be able to help you reduce your payments and save money each month.

By using the loans comparison service while you consolidate debts, you can find and compare the best debt consolidation loans available in the UK. With online mode, you can also see who offers the best rates. You can then apply online free of cost. The online application takes less than five minute and you can have a zero obligation loan quote in less than 30 minutes.

One agreement solution of many problem

The Individual Voluntary Arrangements is a legal contract between you and your lenders and is supervised by a Licensed Insolvency Practitioner. The purpose of this agreement is to enable you to reach a compromise with your lenders and avoid the consequences of bankruptcy and other financial adversities.

The agreement enables you to reduce your existing debts to an affordable level and clear them over a fixed period of five years. The compromise should offer a larger repayment towards your total debt burden than could otherwise be expected were you to be made bankrupt. You can even take out a fresh loan of secured category while in an IVA. What’s more, it is a totally private arrangement as nobody needs to know about it apart from you, your IP and your creditors. An IVA ensures that your home is protected from the threat of repossession and your job is not at risk.

You make one single manageable monthly payment, based on your affordability, for 3-5 years. After that time frame, the remaining debt is wiped clean, leaving you completely debt-free. This means that an IVA can write off up to 75% of your existing debts in a convenient manner. However, under the terms of the Individual Voluntary agreement you undertake to contribute towards your debt burden as much as possible within your budget. So in actual practice, an IVA presents an opportunity for you to pay whatever as you can in a manageable way that you can afford.