Consumers Find They Have a Partner in Helping to Pay Down Overwhelming Debt
Cheshire, England -- (SBWIRE) -- 03/26/2013 -- Debt often sneaks up on a person. Before they know it, they are in over their head, missing payments on a regular basis while being hit with late payment fees and other penalties. "Consumers don't have to go this alone. With the help of debt relief programs, consumers pay down debt and bring their finances under control once again," Jim ONeon of Debt Consolidation Loans UK explains.
Many who get into debt do so as a result of an unexpected financial crisis. The loss of a job, a medical emergency or the dissolution of a marriage or partnership are three common situations where debt may arise. For many, the crisis isn't a permanent thing, but the consumer feels overwhelmed by the amount of debt which has built up and feels they will never be able to pay it off. "A debt consolidation loan helps significantly as the consumer now only has one payment to make. This payment is typically lower than what the consumer was paying and allows him or her to pay the debt off quicker, providing much needed relief. To learn more, visit http://www.debtconsolidationloans.uk.com/iva-individual-voluntary-arrangements/iva-individual-voluntary-arrangements-in-the-uk.html," Mr. ONeon says.
The use of a debt consolidation loan allows consumers to avoid more drastic situations, including bankruptcy. Debt consolidation organizes bills so no payments are missed. This alone is of great help to many as it is harder to miss a payment and timely payments lead to an increase in the consumer's credit score. "Although the credit score is affected in the short term, a debt consolidation loan doesn't follow the consumer for the rest of his or her life like a bankruptcy does," Mr ONeon goes on to say.
Many factors play a role in loan products available to a consumer. Income, amount of equity and credit rating determine the programs a consumer qualifies for and the interest rate of the loan product. "Consumers, when comparing loan products, need to ask about due dates, direct debit and more. Some companies allow the consumer to pick the due date while others may offer the option of having the payment direct debited to ensure payments aren't late or missed. Visit http://debtconsolidationloans.uk.com to learn more about these debt relief programs and how they can be of help," Mr. ONeon declares.
About Debt Consolidation Loans UK
Debt Consolidation Loans UK remains one of the fastest growing debt consolidation and debt management websites in the country. The site strives to find consumers the best deal online in the shortest period of time with no complications or fuss. Consumers can submit information at any time as submissions are reviewed daily and Debt Consolidation Loans UK scans the market to find the right solution. Consumers appreciate the help they receive as it allows them to get out of debt and live without financial worry.