We are an Introducer Appointed Representative of Quint Group Limited, who are a credit broker, not a lender. OinkMoney.com Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd for the purposes of obtaining a loan. Oink Money does not provide any loan or consumer credit products directly.
Friday 16th of March 2018
It sounds like quite the oxymoron but as you delve into this subject you soon realise how you can use loans as debt consolidation. It’s easy to go gung-ho with your credit card and household bills, but an interesting way to get your head above water is through the form of a loan.
It’s an interesting subject and one that you should research thoroughly before committing to, but it is true- you could save yourself money by applying for a loan. It could mean covering all your other finances with one payment and then focussing your efforts on making one payment, it works well for a number of reasons.
Debt consolidation is exactly what it sounds like; you can get in control of your finances by taking out a larger loan and settling many of your payments. It enables you to stop making lots of small payments and instead, make one payment per month.
You are probably wondering what the advantages of this tactic are, well, you can stop making lots of different payments ultimately making it easy to track your outgoings. You will only have to deal with one company and of course, you can make sure you are paying a fixed rate per month.
In addition to some of the advantages discussed above- you will be able to budget with ease. It takes some of the strain off your finances and you can make a payment to just one outlet. One of the main benefits includes your credit rating, by fixing your score and making a regular payment to just one lender you are essentially demonstrating your capability to be a responsible borrower.
It can be a great way to enjoy a fresh start and is a tool to help you gain a positive credit rating. Many people use loans and other credit to take themselves outside of the red and to stop borrowing unnecessarily and that’s why it’s integral that you don’t borrow more than you need or are capable of paying back.
If this is not done smartly and is not meticulously thought out, then it could work against you. The key to it is, taking important factors into account and working out if you will be better off with one payment. You will want to take a look at finding a loan with a fixed rate and with a lower interest rate.
Here are some things you should keep in mind when taking a consolidation loan:
The loan itself can reduce many of the stresses and difficulties but is it possible to actually reduce your overall household debt with a loan? The answer is simpler than you probably expected- you can reduce your overall debt. As well as consolidating your bills with just one payment you can also reduce the actual amount of arrears that you are in.
Take out a loan to cover all of your debts, and ensure it is low interest or a fixed rate loan. This will help you cover your outgoings and make a regular payment- at the end you know it is fixed and you no longer need to worry. Cover your mortgage, utilities, credit card and insurance all with a single payment. It is certainly possible to reduce your debt with one loan, plus you will have a fixed loan that will be settled at the end of a term of around three to five years.
Reduce your household debt by following these steps:
It is possible to reduce your overall debt and it must be something that is though through, you can make the whole process easier by having just one regular payment to make. Find the right loan for you and start increasing your credit score. The good thing with Oink Money is that we cater for those with a poor credit rating and help you establish a new score. We believe everybody deserves another chance and it can be easy to over extend on various payments- with these loans you can responsibly take one out and start working on your finances.
OinkMoney.com Introduces customers to Monevo Ltd who are an Appointed Representative of Quint Group Ltd for the purposes of obtaining a loan. Oink Money does not provide any loan or consumer credit products directly. We do not make short term loan or credit decisions.
We do not charge any fees. If you are contacted by anyone saying they are calling from Oink Money requesting you make them a payment, you should report this to www.actionfraud.police.uk immediately. We will never contact you asking for a payment.
*The loan amount and interest rate you are offered are subject to lenders requirements and approval. If accepted by a lender, a full credit check will be carried out. If Monevo are unable to find you a loan, they may offer you an alternative product. The time it takes for the funds to appear in your account may take longer, and will depend on your bank and the lender's own policies and procedures.