With so many financial obligations, it is challenging to pay many instalments, especially on different interest rates. Then delay in payments happens and credit score degrade creates bad credit situation. Before all this mess, through debt consolidation loans in the UK, you can change the picture.
Big Loan Lender facilitates that through simple, smooth formalities. It is very natural that due to countless desires, you obtain varied financial opportunities. When they multiply in number, it becomes difficult to manage them, and as a result, multiple debts happen. We can help you maintain them all and lighten your financial burden.
As the tool of gathering the scattered repayments, consolidation of debts plays an important, irreplaceable role. We merge all your financial commitments into one loan to end all the chaos. With a simple procedure, it becomes possible to trim off the additional costs you are paying on your debts in the form of volatile interest rates.
A loan product accumulates all the debts into one big loan to one monthly instalment on a fixed rate. Due to this, the borrower gets freedom from making many separate repayments; also, the prevention from unstable prices gives a huge relief. This is the basic definition and nature of this loan, and you can find this saviour easily online.
Varied kinds of expenses are covered through the consolidation of debts to create more space in your finances–
Turn all in one simple monthly instalment
Note – We also cover any existing debt consolidation loan. If only small debts are there, the process takes only a few hours, and if the long-term debt is also there, one working day will take.
The procedure is simple and does not include anything bulky in the name of documentation or formality. Here are the three basic steps –
Yes, your attainment of the loan has nothing to do with the credit score status as it is designed to help people in the money mess. Many people get in the poor credit situation and then seek help through consolidation of pending debts. It is an escape window if your creditworthiness is draining due to multiple pending payments.
The few required conditions to get approval are -
The factor of repayment capacity is so strong that through it you can get bad credit loans without guarantor.
To ensure maximum flexibility, we receive the reports from all the credit reference agencies. All of them have different parameters of assigning the rating. Unlike other names in the industry, we say yes to all. In case we consider only one of them, many deserving candidates may miss qualifying for the loan. The reason is, in one agency if you are a fair credit scorer, in the other agency you can be a bad credit scorer with the same rating.
Our prime focus remains not only on the credit score but on the repayment capacity. If that is fine and in the right situation, the approval happens conveniently. Through soft credit check, we make a harmless inquiry of your payment history and credit records. In short, you are availing debt consolidation loans for poor credit from us is not difficult.
To provide short-term as well as long-term assistance, we offer both the types. Here also low credit rating is not a barrier. Whether you apply for secured or unsecured debt consolidation loans for bad credit, we offer both.
Here is the difference that you see between the two -
Secured Vs Unsecured Debt Consolidation loans
|Secured Debt Consolidation||Unsecured Debt Consolidation|
|Collateral is required||Neither collateral nor guarantor required|
|The loan amount limit is bigger||The loan amount is small in minimum and maximum|
|‘Long-term debt consolidation loan’ is another name||Also known as the ‘personal loan.’|
|Disbursal may take one or two working days due to the procedure on the collateral part||Same day disbursal is possible if the repayment capacity is strong|
One common thing that relates both the types is the feature of the real-time approval decision. You get secured as well as unsecured debt consolidation loans on instant decision. No time waste, assistance at the right time!!
Big Loan Lender commits to deliver uncompromised financial services and ensure the best standards to facilitate best borrowing experience. Fortunately, we are doing that since long and will continue the same forever.