Credit And Store Card Debt Help

Recent economic times have been particularly trying on the UK consumer which has resulted in many people building up their credit cards to try and deal with the increasing cost of living, lack of pay rises, overtime restrictions and so on. With high interest rates on many cards this means that trying to clear the debt has been unsuccessful for many and instead they remain in financial difficulty.

Often with credit card debt the only way to stop the downward spiral is to use a method of credit card debt consolidation to pay off all of your existing credit cards and instead have one manageable payment secured elsewhere. First Choice Finance can provide many options to our customers in this situation and looking for credit card debt consolidation. You don`t have to suffer in silence give us a call on the above number and we can take the first steps to erasing you credit card debts once and for all.

Don`t be locked down by your credit card debts, do something about it and give us a call on the above number and let us see if we can help you to free yourself financially.

Credit Card Debt Consolidation Options

Many people have common misconceptions that large credit card debts are the end of the road financially for many people. With the high interest rates and balances continuing to rise it is easy to see why many people feel a debt management/ IVA/ Bankruptcy might be the only option but this is certainly not the case and First Choice is here to show you that. There are credit card debt consolidation options out there for you and we will make sure that our customers have access to them. The very nature of credit cards themselves and allowing people to make a minimum payment with often extremely high interest rates often results in what was once a small balance increasing to something much less manageable if you cannot keep on top of it. If this happens with one card it is often hard to keep up repayments on your others and thus the downward spiral of credit card debt begins. It really is that easy and can happen to anyone which is why it is best to nip it in the bud and consolidate those debts before they escalate too high and beyond your means. If you come to us at this time we will be able to provide you with options to find your way back to being debt free, so fill in the online application form and we can give you a call now, before it`s too late.

Remortgage To Consolidate Your Credit Cards

One of the options available to people with credit card debt is to remortgage a property, this could either be an existing residential property or raising the finance against a buy to let property if you are fortunate to have one. First of all there are a few factors to consider to see if a remortgage is a viable credit card debt consolidation option:

What is your current mortgage rate?- Is the new rate you move onto worth switching your whole mortgage to and will it save you any money?

Are you currently on a fixed rate?- If this is the case there may be costs involved, for example, ERCs to switch to another rate/lender

Do you have enough equity in your property to raise to cover your credit card debts?- The maximum LTV for remortgages is usually 80%

Are the lenders willing to lend to you to cover your credit card debts?- Some lenders ask that only a certain percentage of the money raised can be for debt consolidation

If you can answer yes to all of the above then credit card debt consolidation through a remortgage can be a great option to save you money and help you to get your finances back on track by providing you with one manageable payment over the term of the mortgage. Please remember that securing any money against your property is an important financial decision and if you do not keep up your monthly repayments your home may be repossessed. If on the other hand you don`t know the answers to the above questions then give us a call on the number at the top of the screen and we can talk you through it, along with giving you tips on how to make lifestyle changes to make sure that this credit card debt consolidation remortgage can be your last.

Credit Card Debt Consolidation Loans

Here at First Choice we understand that remortgaging as a method to consolidate your credit card debts isn`t for everyone. For example, if your existing mortgage is already on a great rate or you do not have long left to pay it off, then the costs incurred to remortgage might not make the savings worthwhile. Fortunately for you, our helpful advisors are here to assist you in making that decision and provide you with other options if that is the case.

Another option available to you might be a debt consolidation loan. This would hold similar benefits to a remortgage as a method of credit card debt consolidation but instead of changing your existing mortgage it would simply sit behind it as a second charge on the property. As it is not tied to a mortgage it could also be provided over a shorter term for you to pay off your debts quicker. We deal exclusively with many secured loan lenders who are more than willing to provide loans that can act as credit card debt consolidation loans, even in many circumstances if the borrower has started to fall behind on keeping up with the payments. For more information on our exclusive deals please give us a call on 0800 298 3000 (on a landline) or 0333 0031505 (from a mobile)

Credit Card Debt Consolidation Calculator

If you think that using either a remortgage or a loan as a method of credit card debt consolidation could be an option for you, then talk to our finance experts without any obligation or head over to our calculators page and use our consolidation calculators to see just how much money First Choice Finance could save you by putting one in place.

Homeowner Secured Loans 9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages 8.4% APRC. Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)

Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE) First Choice are tied to certain unsecured lenders.

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. Security is required on immovable property.

Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.