Debt Consolidation
Don't allow the stress of debt consume you.
If you have a number of various obligations and are having trouble making payments, debt consolidation is a means to combine them into one loan to minimise your monthly payments.
We will advise you on which option to take at Force Financial Solutions; we are compassionate and understand that circumstances change. We’ll find you a loan from one of our many lenders that will allow you to borrow enough money to pay off all of your present bills and go forwards with significantly reduced installments, giving you breathing room and a better plan to follow.
Refinancing can make life less stressful, more confusing, and easier to manage your debt.
Ready to take the next step?
At Force Financial Solutions we will assist you with searching for the best products, whether it be a mortgage, personal loan or debt consolidation.
When is it time to consolidate?
Debt consolidation makes sense only if:
- Any savings are not wiped out by fees and charges;
- you can afford to continue making payments until the loan is repaid;
- you use it as an opportunity to cut your spending and get back on track; you end up paying less interest than you were before;
- and the total amount payable is less (it could be more if you repay over a longer period).
Borrowers must have the required income and creditworthiness to qualify, especially if they are dealing with a new lender. A letter of employment, usually a three months’ bank statement is what the lender will ask from you.
All lenders have programmes to assist you in difficult circumstances. Enquire with their hardship team about a hardship variation.
They may be able to adjust the term of your loan, as well as reduce or suspend your repayments for a period of time.
