Debt Consolidation

There are many solutions that could enable you to consolidate your debts, and in most cases you can consolidate them into one tailored monthly payment. The debt advisors at Burgess Bowen Financial Management will discuss your requirements in confidence, complete a comprehensive review of your finances, assess your overall position and then explain the range of options available to you – in one phone call.

 Why would you consolidate your debts?

• Consolidate multiple debt repayments into a single monthly payment
• Reduce your regular payments
• Know exactly when your debts will be repaid
• Stop ‘juggling’ with multiple creditors

What is debt consolidation?

If you have more than one creditor, then debt consolidation means combining multiple debts into one. This can make your unsecured debt much easier to manager & repay, as you’ll be making just one payment every month. Generally you would consolidate your debts and you’re either seeking to reduce your overall monthly outgoings or the consolidation of your current debt repayments into one regular payment.

Do I have to be a homeowner to consolidate my debts?

You don’t have to be a home owner to consolidate your debts – however if you are a homeowner, you may find there are additional options available to you, such as a remortgage or a secured debt consolidation loan.

You must think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.

Are there any drawbacks to debt consolidation?

It depends on the particular solution that’s best for you. Generally, your payments are lower but you will be paying them for a longer period of time. This means you may end up paying more in the long run, but will be able to manage your monthly finances again. Each solution has its own benefits and drawbacks – speak to an advisor today.

How do I apply?

For more information on debt consolidation call us for a consultation on our Free Phone number, or make an online application for an immediate call back.