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Consolidate Your Debts To Reduce Monthly Payments

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Rates may vary depending on loan amount and individual circumstances. Subject to status.
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Reduce Monthly Outgoings

Consolidate : “To combine several financial accounts into one single loan or account making payments more manageable”. We can’t make your debts disappear but a debt consolidation loan can be an affordable and manageable way of taking control of your finances and reducing your monthly payments.

Simply fill in our online application form and one of our personal finance specialists will contact you within the hour with a decision – meaning you won’t have to wait around.

We’ll listen to you about your current financial position and then compare the options available to you from our wide panel of lenders. At Pegasus Personal Finance, we’re experts in helping our customers find a suitable debt consolidation loan that fits their needs – so contact us today for some helpful advice.

If you are thinking of consolidating existing borrowing, you should be aware that you may be extending the terms of the debt and increasing the total amount you repay.

Advantages of a Debt Consolidation Loan

  1. Have all of your debts in one place and avoid missed payments: when you pay off existing debts with a debt consolidation loan you won’t have multiple payments to juggle every month, making it easier to keep track of your finances and commitments.
  2. Lower interest rate: You could obtain a lower interest rate than you are currently paying, especially if you have a high rate credit card or short term loan.
  3. Create certainty: with a fixed interest rate and fixed term you will know exactly how much your monthly payments are and how many payments you have remaining until your debt is fully repaid.
  4. Improve your credit rating: by closing other credit cards and loan accounts you will be demonstrating that you can manage your finances responsibly and providing you keep up with repayments you could see your credit score improve in the future.

Disadvantages of a Debt Consolidation Loan

  1. You could end up paying back more: if you take a longer term on your new loan than your old debts you will get a lower overall repayment but will probably end up paying back more.
  2. Early settlement penalties: some finance companies do charge a fee if you pay off your loan early. It’s not normally that much but we still advise you to check your terms and conditions before making any decisions.

Debt consolidation loans for bad credit history

Not all of us have a perfect credit history but this doesn’t necessarily stop us from helping you obtain the debt consolidation loan you require even if you have bad credit.

We work with lenders who understand that life is not always straight forward and will consider your application based on your current situation not your poor credit history.

They also understand that a debt consolidation loan will often mean reduced monthly payments so providing the payments are affordable a new loan could give you the ability to catch up with debt.

If you are struggling with debt and feel that a debt consolidation loan may not be the sensible solution for you then there is lots of help and advice out there for you.

Please visit https://www.moneyadviceservice.org.uk/en/tools/debt-advice-locator for free debt advice services currently available in the UK.

Spread The Cost

Monthly Payment £0
Total Repayable £0
(7.9% APR illustration)
Apply Now
Rates may vary depending on loan amount and individual circumstances. Subject to status.