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Consolidation Loans in the UK: Finding the Best Loan Options

With the relentlessly increasing demands for loans and other loan services, as well as the incessantly rising number of borrowers with unpaid debts, traditional lending firms and institutions were left no choice but to devise a system that’s specifically designed to address these problems, even in the long term. Due to this, a credit scoring system was created especially to achieve the lending institutions’ intended ends. Under this credit scoring system, lending firms were given the capability to easily organise borrowers according to their respective financial capacities. Borrowers whom the lending firms believed to be incapable of paying off their loans in the future were easily segregated fro the borrowers whom they perceived to be likely capable of paying off their debts without any problem. With this credit scoring system in place, individuals and other borrowers with income levels that fall short of what the lending firms have decided as the acceptable minimum were automatically given poor credit scores, while the borrowers who repeatedly or frequently missed their payments, regardless of their reasons, found their financial records automatically indicate their bad payment histories. As a result, borrowers with poor credit scores and bad payment histories were automatically prohibited from securing any types of loans from any of the standard lending firms and institutions. And while this credit scoring system proved to be highly helpful to the lending firms, it had long term effects that proved to be extremely detrimental to the borrowers’ finances in the long term.Since borrowers with poor credit scores and bad payment histories were automatically precluded from acquiring loans from any of the legitimate lending firms, many of them were left with very little and often impractical, unacceptable, and sometimes simply impossible options whenever they were faced with urgent financial situations. And although selling off personal properties as well as asking for money from friends and family might seem the best ways to raise money, these options are not always plausible, nor are they always easy. Because of this, borrowers with bad credit were often left to resort to illegal loan services from underground lending firms, which provide borrowers the temporary monetary relief that they crucially need. But while these types of loan services do provide borrowers with provisional financial relief, the long term consequences often associated with these financial alternatives often leave borrowers in even worse financial circumstances.

Getting Consolidation Loans for Bad Credit

Due to the exceedingly high interest rates that are inherent to underground loan services, borrowers often find themselves trapped in an endless cycle of difficult financial circumstances. But as more and more borrowers find themselves in similar cycles of financial predicaments, a whole new market comprised entirely of borrowers with bad credit was eventually created. And with the consistently increasing demands for better, more affordable, and safer loan services in this newly created market, lending firms and institutions have later on decided to come up with innovative new financial solutions. Through innovative new loan services like consolidation loans for bad credit, borrowers need not have to submit impossibly hard to procure requirements, making these loan applications a lot more convenient. Unlike applications for typical loans that are normally being offered at traditional lending institutions, applications for consolidation loans for bad credit does not involve waiting for long hours in long lines just to submit applications, nor do they involve any more waiting when it comes to the release of approved loan’s funds.

why get consolidation loans

With consolidation loans for bad credit, borrowers can now combine all their existing loans into one big debt, which they can repay in much smaller instalments and much longer payment arrangements.

How to Get Consolidation Loans and Instant Loans for Bad Credit

With the continuous evolution of the lending industry, as well as the latest advancements in online security and technology, borrowers now have quick access to far safer and more affordable loan services even despite their bad credit. Through innovative new financial services such as consolidation loans and instant loans for bad credit, borrowers may now enjoy the convenient option of submitting loan applications without even leaving the comfort of their own homes. And since loan applications can now be accomplished entirely online, borrowers now enjoy the advantage of being able to submit their applications from anywhere they are and at any given time. Because everything can now be completed entirely over the internet, loan applications are now processed the moment that they are submitted. As a result, approvals of applications for consolidation loans and instant loans for bad credit can now be expected in just a few minutes after their processing is completed. The release of funds for approved consolidation loans, on the other hand, may now be accomplished in as early as just a few hours after the applications have been submitted.

With these convenient and highly useful features of consolidation loans and instant loans, these loan solutions are considered one of the best options in addressing urgent financial situations. And since consolidation loans are basically loans that are developed specifically to address complicated financial situations that typically involve multiple unpaid loans, these loan services also make great choices in addressing complex financial circumstances. Through innovative financial services like consolidation loans for bad credit, borrowers can now easily keep up with their multiple loan payment obligations by combining them all into one single loan.

Getting Consolidation Loans from Direct Lenders

For many borrowers, the most common misbelief is that since borrowing from the borrowers directly saves them money by not having to pay for loan brokers’ fees, this option yields the most benefits. A lot of these borrowers fail to see, however, that since loan brokers always maintain a network of connections to different lenders across different areas, they consequently have comprehensive access to all these lenders’ many different discounted lending services. Due to this, borrowers who choose to secure loans through the services of loan brokering firms actually enjoy much more savings and far more benefits in the long term.

why get consolidation loans

The Lenders List

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£100 - £5,000
Loan term
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Loan amount
£100 - £3,600
Loan term
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You will need to be over 18 and a UK resident with a valid UK address.

You must also have a monthly income (from benefits or a job) and a UK bank account.

5 most recent personal loan reviews

Review of Wage Day Advance

After being turned down everywhere for a loan even know I had more than enough coming in my bank to repay I was being turned down. Then my last hope was Wage Day Advance. They don't judge by previous mistakes in life they were simply looking for a promise of payment which I said I can do. I used a close and helpful friend to cover my back and we had the money In my bank account within 2 hours! Guys if your like me and seriously need that debt consolidation then these guys will help you out! Highly recommend! Best company by far.

Review posted by Benn Stokes, Peterborough

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Compare The Market

Fantastic service from compare the market! Application was quick and easy. The website is very straight forward and the staff are very friendly, polite and helpful.

Review posted by Jade Woodward, York

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of UK Fast Loan

The process was very quick and customer service I received was 10/10, rate and interest are not ridiculously high and I was able to pay off all the debts and clear them, I would definitely recommend them to anyone!

Review posted by Hannah Wright, Swindon

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews have been sourced from Trust Pilot to ensure an entirely nonbiased basis of accounts.

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

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Loanora is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances