Loans for debt consolidation from Evolution Money
We understand that managing different debts and keeping up with the repayments can feel daunting and stressful. You want to remain in control of your finances, and a debt consolidation loan from Evolution Money could help you stay on top of the situation.
If you have a number of existing debts to pay off, it can be easy to lose track and miss a repayment – especially if you are hit with unexpected bills that leave you stretched. But with a debt consolidation loan, you can combine the amount you owe into one single monthly repayment.
We can offer secured debt consolidation loans to UK homeowners aged between 21 and 70 and you can get a free, no-obligation quote that doesn’t affect your credit score. If you have any questions, you can get in touch over the phone on 0161 814 9158 or via email at info@evolutionmoney.co.uk and we’ll be more than happy to talk to you.
Read on to find out more about secured loans for debt consolidation, including how they work, how much they cost and how to apply.
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What is a debt consolidation loan?
A debt consolidation loan combines all your debts into one amount. These debts could be other loans, credit card bills or your overdraft. Your debt consolidation loan pays them all off, leaving you with a single monthly instalment to repay. A loan of this type can make it easier to keep on top of all your finances and could reduce the amount you pay each month.
How do debt consolidation loans work?
- Apply for a debt consolidation loan that will cover the total amount of your existing debts.
- We will pay off those existing debts directly.
- You then pay off your debt consolidation loan plus any interest that is owed.
If you're looking to obtain credit, our secured loans can be used for a range of purposes
Carry out home improvements a great way to invest back into your property 
Bigger personal items such as cars can be financed using a secured loan 
Even if you have bad credit we could still help you with a loan What are the pros and cons of debt consolidation loans?
Before you apply for a debt consolidation loan, you need to make sure it’s the right option for you. To help you, we’ve outlined the key advantages and disadvantages of this type of credit.
The advantages of loans for debt consolidation
- Simplicity of one monthly repayment, rather than several.
- Can improve your credit score.
- Could increase your monthly disposable income.
The disadvantages of loans for debt consolidation
- Likely to increase the total amount of money you have to repay.
- Can extend your debt over a longer period.
- Secured against your home, which could be repossessed if you fail to keep up with repayments.
Why choose Evolution Money for debt consolidation loans in the UK?
- Loan terms to suit your circumstances
- Lent to more than 31,000 people
- Thousands of positive reviews
- No hidden fees
- Feefo Platinum Trusted Service Award 2022
How we’ve helped others
One of our customers had 13 lines of credit which included an unsecured loan, an overdraft, credit cards and store cards. We were able to offer them a debt consolidation loan for £53,000 to clear all 13 credit items, take them out of their revolving credit cycle and reduce their payments by over £1000.00 a month. Our help also enabled them to make some home improvements.
Apply for a debt consolidation loan with Evolution Money
If you have any questions about how debt consolidation loans work, whether they’re the right option for you, or anything else, please don’t hesitate to get in touch with one of our friendly, expert advisers on 0161 814 9158 or info@evolutionmoney.co.uk.
We’ll be more than happy to talk you through your debt consolidation loan options and see if we can help you convert your existing payments into one manageable monthly instalment.
Think carefully before securing debts against your home your home may be repossessed if you do not keep up repayments on your mortgage or any other loan secured against it. 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.
