Frequently Asked Questions
What is debt consolidation?
Debt Consolidation is the process of combining your unsecured debts into one affordable regular repayment.
How will Debt Consolidation help my debt situation?
If you are struggling with multiple repayments which are due at all different times of the month, debt consolidation will get all your debts into one affordable repayment each month making it much easier to manage.
How long will my debt consolidation take?
As soon as you authorise Debt Control to assist you with your debt consolidation your Debt Control consultant will handle the process from start to finish while you get on with your life.
What if I have a bad credit rating?
We have been able to help many clients with bad credit problems to consolidate their unsecured debt into one affordable repayment and become debt free.
Will I be able to make one regular payment to all my unsecured creditors?
Yes, we will help you to set up one regular direct debit from your bank.
What if I have debts with Collection Agents?
We will contact the collection agents and explain that we are now assisting you with your debt situation and then keep them informed throughout the debt consolidation process.
What is an unsecured Creditor/debt?
Unsecured creditors/debts are debts where no collateral/security has been given. Debts that are generally unsecured are credit cards, store cards, Interest free loans, personal loans, medical bills, telephone and electricity accounts etc,. An example of Secured debts would be home mortgages and car loans.
Do I need to have Property?
Debt Consolidation can be achieved with or without owning a property.
Who is a candidate for debt consolidation?
A good candidate for debt consolidation would include those who are over their head in credit card and unsecured debt or stressed about their financial situation and can't see it improving. Those people who are struggling with multiple monthly repayments and need to get their debts into one affordable monthly repayment. Anyone who is finding it difficult to handle their finances all by themselves.
Will I be able to get a home loan if I don’t have a good credit rating?
When you can afford it there are lenders who specialize in home loans for people who don’t have a good credit rating.
