Consolidating debts usually involves taking out one large loan to pay off lots of existing smaller debts.
Most people do this to:
- reduce the interest rate on their debt;
- to bring down their monthly payment amount; or
- to reduce the number of companies they owe money to.
Debt consolidation loans can be useful in some situations but for many it can involve extra costs, and potentially makes a difficult situation much worse. That’s why it’s best to get expert debt advice before taking out such a loan.
However if debt consolidation is the right option for you then we may be able to help with a debt consolidation personal loan.
We offer loans from as little as £100 right up to £3,000 with interest rates of 42.6% APR, subject to affordability and credit checks.
Features and Benefits:
- Personal loans from as little as £100 up to a maximum of £3,000, unsecured
- 42.6% APR
- Easy to apply and decisions within 2-3 days
- No hidden charges or fees or early repayment penalties should you find yourself in the position of being able to clear your debt early
- Repayments to suit you – weekly, fortnightly, four weekly or monthly
- We can make payments direct to your creditors to clear your debt(s)
- Up-to-date on any current or previous borrowing with Derbyshire Community Bank
- No recent adverse credit history
- You must have the disposable income to meet the loan repayments.
Affordability and credit checks apply.
You must work or live in Derbyshire to be eligible to join the bank.