When you're in a financial mess and don't know which way to turn, one way to consolidate your debts and make life easier is with debt consolidation loans.
With bad credit ratings some people worry that they won't be able to get a loan, but they'd be wrong.
Sometimes you just never know what's around the corner, and life can often throw you a curved ball when you least expect it.
Divorce, bereavement, redundancy, and relationship breakdown can hit you 'out of the blue'.
Events like these can suddenly place you in severe financial hardship.
In no time the pressure to keep up the repayments on loans, car payments, credit card bills, mortgage, etc.
, becomes too much and you get into arrears.
The answer might be to consolidate your debts into one low monthly payment with a debt consolidation loan.
The loan will be used to pay off all of your creditors.
Good Points 1.
Store cards and credit cards have high interest rates, and add more interest on when you fall behind.
The loan will clear these debts.
2.
Instead of struggling to pay large sums to lots of creditors, you will pay one lower payment to one company.
3.
The lower monthly payment will help you get back on your feet and out of debt.
Bad Points 1.
The low monthly payment means it may take longer to pay off the debt.
2.
You may find that your credit rating drops, but it will improve as the debt reduces.
Sometimes the best long term solution to financial problems is with debt consolidation loans.
With bad credit, you can still get help and eventually become both stress and debt free.