Debt consolidation finance for poor credit or bad credit history applicants. Find finance brokers specialising in finance for debt consolidation. Find advice, information and guides on finance for the self employed, discharged bankrupts, IVA finance, finance with CCJs, information on debt consolidation, poor credit and bad credit finance, advice on finance arrears, guides on self employed finance, finance with county court judgements and solutions for poor credit finance through specialist finance brokers.

Over the past few years, most homes have risen in value - often by quite a lot. This means that if you bought your home a few years ago you could have a fair bit of equity tied up in your property. Equity is the difference between what your property is worth now and the size of the mortgage you took out when you first bought it.

Depending on the circumstances, debt consolidation finance can be a useful option for homeowners who are struggling to keep up with the repayments on a variety of personal loans, credit cards, store cards, and other types of finance.

If you have equity in your home, you can get your hands on some or all of this cash by taking out finance in the form of a secured loan. When you take out homeowner finance such as a secured loan with the intention of using the money to pay off unsecured debts (such as personal loans and credit cards), this is known as debt consolidation finance or a debt consolidation secured loan.

Debt consolidation finance can often mean you end up paying out less per month than you do at the moment for all your combined repayments on individual loans, credit cards, and hire purchase agreements. This is because the interest rates on debt consolidation finance such as a secured loan is usually lower than the interest rates on unsecured borrowing.

The disadvantage of consolidating your unsecured debts with secured debt consolidation finance is that you may end up paying more in interest in the longer term. This is because most personal loans and credit card debts are paid off within five years. On the other hand, debt consolidation finance in the form of a secured loan is likely to run for anything up to 10-20 years.

So when you are considering debt consolidation finance, you need to weigh up the pros and cons and decide what matters most to you. Do you want to have lower monthly outgoings now but possibly pay more interest in the long run, or can you afford to keep your monthly outgoings at their current level and thus pay off your debts earlier.

As with any important finance decision, it makes sense to take expert advice from someone who knows the finance market well.

You can use our online enquiry form to get in touch with a finance broker who can offer help and advice on debt consolidation finance. Just complete the no-obligation confidential form and we will arrange for a debt consolidation finance specialist to contact you and discuss the options with you.