About Debt Consolidation Loans for Bad CreditApply Now
Debt consolidation is taking a new loan to pay off other debts or liabilities. It is where multiple debts are combined into a single debt and the borrower can payoff with favourable terms like reliable interest rates.
This loan is used by the borrowers to payoff multiple debts at one go rather than paying interest for small debts. This lets the borrower save on interest amount and finance cost.
Debt consolidation loans that we offer are an unsecured loan given to the people with bad credit history. As there is no surety, considerable APR is imposed depending on various factors.
Reasons to Use Debt Consolidation Loans
Let money not be a problem for fulfilling your needs. Look out for benefits before applying.
No Collateral Required
Can Payoff Multiple Debts at Once
Reliable Interest Rates
No Credit Check
Frequently Asked Questions
A Debt Consolidation loan is a type of short-term loan which is typically used for merging all the outstanding dues as a single consolidated debt and paying it off all at once. This single debt consolidation loan is later paid in a scheduled manner. The money is credited by a credit union or a financial lender to the borrower. It is usually an unsecured loan and is available for bad credit scores. Since there is no surety, considerable APR will be imposed depending on the loan amount and other factors.
A Debt Consolidation Loan is typically availed to pay off all the impending overdue at once instead of juggling in between too many monthly payments. It can be availed quickly from a financier without much hassles or paperwork. The loan can be repaid as manageable amounts over a scheduled time period. The borrower will have to pay the loan amount along with the interest rates for the pre-decided payment tenure.
At FleetQuid, our lenders provide loans for any amount in between £100 up to £5000, imposing 36% Representative APR (variable). You can choose the amount depending on your requirements. However, it is wise to choose an amount that you may need immediately because the Debt Consolidation loans are unsecured and come with considerable APR depending on your loan amount and other factors.
At FleetQuid, our financiers will not impose any restrictions on how you should use your loan money. However, it is better you use it for genuine purposes. Although it is typically availed to repay consolidated debts, you can also use the loan amount for repairs & renovations, for medical emergencies, to make purchases, etc.
You will probably be the right person to decide that for yourself. You could explore regarding Debt Consolidation loans, the pros and cons, or you could talk to one of our representatives who will give you an insight into Debt Consolidation Loans. You can then choose depending on your preferences and needs.
The best way to keep a good credit score history is to make your payments on time. If you already have a bad credit score, you could use a Debt Consolidation loan to bunch up the debts and pay them off at once to help build the credit score. You should repay this debt consolidated loan on time to retain the good score.