UK Debt Consolidation Loans for Bad Credit – Unsecured Borrowing

If you’re looking for debt consolidation from a direct lender, you have no guarantor, poor credit and need an instant decision, Ravenwood could help you.  Smaller loans are unsecured and larger loans typically over £20,000 may need to be secured on a property.

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Ravenwood does not offer 100% guaranteed loans. Still, our direct lender has a high rate of acceptance as they understand that if you give people lower rates and de-clutter their life from multiple monthly obligations at different times of the month, regular payment is much easier.

It’s common to find people looking for 100% acceptance loans as they are sick of getting turned down by lenders that are very fussy about peoples credit score and past personal circumstances.

People looking for best debt consolidation loans are generally people looking to maintain their obligations to lenders and not default on anything, because they know defaulting is wrong and bad for everyone.

No one in their right mind wants a fee collecting middleman – NO BROKERS people scream! That’s why our direct lender does not use a broker to do the work on the loan. They have simple online applications with a minimum of scanning and sending documents. You can take pictures of your payslips or accounts with your Android or iPhone.

Even if you have bad credit, lenders can see your income by the payments you do regularly make to your existing lenders. Tenants can be just as creditworthy as homeowners in many cases, as the responsibility for the maintenance of their home is on their landlord not them personally. If you’re a tenant and your landlords washing machine breaks, call your landlord.

Payday loan debt consolidation

Because of payday lenders that don’t care that they put you into a monthly debt doom spiral, as long as they hit your debit card just after your payday, it’s easy to get into trouble with payday lenders. You essentially destroy the income you do have in very high rate payday loan interest. Then you run out of money for basic things long before your next payday. Our direct lender understands that with no fees, you want to get out of this Ponzi debt spiral and pay back the money you owe at a reasonable rate of interest, within a timescale you can easily manage.

Areas of the UK acceptable for urgent loan cases

It doesn’t matter where you are in the UK, Scotland, Wales, England or Northern Ireland, don’t let other loans go bad, manage your borrowing with a non-homeowner debt consolidation loan.   Even if you are a tenant currently on a debt management plan or iva. If your credit score is fair because you missed a few payments two years ago, interest rates can be even lower.

Don’t risk debt collector agency charges added onto your debts!

“I’ve got debt collectors hassling me”, this is another familiar story. You are trying to work, make a living, pay your debts, and all you get is people that want you to priorities their debt over everyone else’s.  This is where debt consolidation is a powerful solution to getting rid of the daily harassment of creditors chasing you.

Do you have telephone bots ringing you up all the time – not even a real person calls you! You get the call by the bot and when you answer only then are you connected to a real (and usually obnoxious) person.

The best way to consolidate debt – real solutions

The first rule of debt consolidation is don’t go back to the same old lenders and rack up more debt after you have paid them all off! Your debt consolidation plan relies on this. Just have one monthly payment just after your payday, pay your rent, your council tax, utility bills and buy food. Any money you have leftover at the end of the month you can overpay your direct lender. Overpaying just a little bit can help get the interest and the debt down quickly so you are free of debt sooner.
If you need a holiday, save a little each month for it and when you go away try and get self-catering and spend no more money when you’re on holiday than you would if you were at home.

Top tips of what not to do:

Don’t pay an upfront fee to someone offering you a 100 percent approval loan – it’s likely that you’re going to lose your money.

Don’t get payday loans! Ever!

If you don’t have the money to service your debts even after a debt consolidation loan, look into debt management, iva or even bankruptcy.

Don’t make assumptions about your future earnings improving, base what you can pay on what you earn now.

Don’t burn your bridges with friends and family getting a guarantor loan as this can often turn very sour if your circumstances change.

Don’t risk your ability to get around by getting a car on finance. If you don’t pay them, they will take the car back! Get a car you can buy outright and try and maintain it as cheaply as possible. Buy an economical petrol car with low road tax, as diesel cars are being pushed out of town centres because of green regulations. A newer car doesn’t necessarily mean lower running costs. Car manufacturers are pushing out small local garages and private individuals that repair and maintain their own vehicles through the use of software diagnostics and other tools that main deals only have access to.

Don’t risk getting your mobile cut off by getting the handset from your network! Always get an appropriately sized sim only tariff with a low monthly charge – and don’t go over your entitled allocation. If you have not got the money for the latest iPhone – simply do without! There are many good Android phones now for just over £100 that are very usable. If you must have the latest tech, always try and put down a sizable sum on your new device, like £300 or more. Work out the cost of the phone and the airtime over the term of the contract.

Don’t have bounced direct debits and bank charges! Get a bank account that you can easily monitor from your mobile phone and make sure there is always enough money for your direct debits and standing orders. Revolut and Starling Bank have excellent apps that alert you to spending and money coming into your account. Another good money management tip is to pay with your debit card and not cash where you can. This will allow you to go back and look at what you have spent over the previous month and will illustrate your own spending habits. Do you buy a coffee in the morning from a shop? Look back over a month on your statement, and you might find you spend a lot of money on such things when cutting out this spending can help you control your money.