Consolidate all your unaffordable debts including bank loans, credit cards, HMRC debts, etc., and pay them back as one single monthly repayment to a single creditor
Typically, debt consolidation means combining all your impending debts together and writing them off according to your financial situations by availing suitable debt help solutions, leaving you with making just a single affordable monthly repayment only. Apart from being a hassle, when you have too many debts with multiple lenders, you pay multiple interests on the multiple repayments, which are going to cost you relatively more. By getting the right debt solutions, you can combine all your exorbitant debts and have them waived off in a safe & legal way. This will lead to a reduction in your debts, and you repay nominal amounts for a stipulated period of time. With the primary purpose of relieving your debts, consolidating your debts can also offer benefits like –
Writing off your consolidated debts will reduce your total monthly repayments
Reducing your debts will have you pay affordable monthly amounts as repayment
All debt reduction solutions are legal procedures that are safe & secure
Getting a debt relief service will stop lenders from chasing you directly
Shown here is a representative example of how consolidating your debts and writing them off can help in controlling & managing your finances well.
Total Loan Tenure
New Pending Debts
New Monthly Payments
At SwiftDebtAssist, you can apply to avail debt reduction services that can help consolidate different types of debts and write them off accordingly. Here is a quick glance of the various debts you can waive off with our solutions –
With the primary intention of helping you reduce your debts by consolidating and writing them off with suitable debt management solutions, SwiftDebtAssist also offers few other perks to the debtors, so that their debt settlement process is a smoother and a more beneficial one. Here are a few other benefits of availing the debt relief services from SwiftDebtAssist –
We will connect you with dependable expert advisors who will study your situation and offer suitable debt advice
By availing the right solution, you can consolidate your debts and write off up to 80% of your arrears accordingly
We carry out simple, transparent, and uncomplicated processing of your application form for early solutions
At SwiftDebtAssist, you can choose the most suitable solution from the many different available debt help options
Right from applying to processing the request, our entire procedure is simple, safe, transparent, and uncomplicated
From our side, we ensure that the entire process will be help privately between you, your creditor, & your IP
Consolidating debts is a process wherein all your impending debts will be put together, and by availing the right debt settlement solutions, they can be written off legally. With this, your total debt amounts will reduce, and you will have to repay a smaller affordable amount. Consolidating your debts for a single payment will help you manage your finances in an uncomplicated way, and if it is done by availing the suitable help solutions to reduce the debt amount, it will also help repay debts in a much manageable & affordable way.
If you feel that you are having too many unaffordable debts and cannot repay them on time to your creditors, you can sign up to avail debt management services. The debt experts will study your financial situations, and an IP will consolidate your debts to chalk out a suitable plan to help reduce your debts, by considering your income, and other factors. The plan will be put forward to your creditors, and if a majority of them agree, your debts will be written off, and you will have to repay reduced amounts as a single repayment, which will be repaid to your creditors by the insolvency -solution providers.
There are many things that you should be aware of before getting any legal solution to write off your debts. Firstly, these services to reduce debts come with terms & conditions that differ from place to place, and from service to service. So, it is essential that you know all the policies before you avail them. Also, every help solution comes with its own pros & cons, and you should be aware of them all so that you do not have any unexpected surprises in the future. Furthermore, if you do not abide by the rules of the help solution, you may have to face adverse consequences too.
To start with, unless you are in a situation wherein you are genuinely not able to repay your debts to your creditors, you cannot apply for a legal help solution to reduce them. The debt advisors will study your condition and provide suitable advice to help you manage your debts. Your individual financial situation, along with many other factors will be the core aspects considered by the IP to decide if getting an insolvency procedure is right for you. So, you, along with your IP who study your entire financial situation will be the right people to decide if consolidating your debts to reduce them by availing insolvency services if right for you or not.
For more help and advice, visit the Money Advice Service, an independent service set up to help people manage their money. Or find out more about the different options for paying off your debt here. IVAs are not available in Scotland. Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk