Debt Consolidation Loans For Bad Credit UK Direct Lender

Find out if Debt Consolidation Loans For Bad Credit UK Direct Lender from Jubilee can help with your debts. Here are the features:

  • Generous tolerance of previous credit problems
  • No lender, broker or advisor fees
  • Direct lender
  • Free, fast, no obligation automated home valuation with no in-person visits
  • 7.93% capped interest rate
  • No early repayment charges
  • Portable second charge loan that you can move if you move home
  • Ideal for repaying existing debts including unsecured personal loans, credit cards, high-rate car finance, store cards and other credit commitments
  • A decision in principle based on a soft unrecorded credit search
  • Up to 90% loan-to-value (LTV)
  • One penalty-free payment holiday per year, subject to request 21 days beforehand
  • No valuation penalties applied to flats and other leasehold
  • No upper age limits
  • Completions in as little as 14 days

"*" indicates required fields

Details of your home

Do You Have any Bad Credit?*

About You

Homeowner Debt Consolidation Loans For Bad Credit UK Direct Lender

Your debt continues to pile up, but you think you have finally figured out a way to get your head back above water. While your loan application was declined, the bank officer informed you that if you could find a cosigner, it would be approved. Now you need to figure out whom to ask to cosign for your debt consolidation loan.

The reality is that you are in a very tough position. You now need to rely on someone else to get your finances in shape.

The person you choose is going to have to be someone you can trust, as well as him or her being able to trust you. It is very easy for finances to cause relationship difficulties.

In addition to finding someone you can trust, you also need to find someone with exceptional credit. Average or even good credit generally will not satisfy a bank. This combination can be very difficult to find, and you may end up putting yourself into a very uncomfortable position with a friend or family member.

When you have finally made your choice, it may be best to keep them in the loop at all times regarding payments to avoid any future arguments. For instance, if your payments are due on the first of the month, send them an email letting them know the payment has been made.

Better to automate the process for Secured Debt Consolidation Loans For Bad Credit UK Direct Lender

Better yet, set up an automatic payment that is deducted from your bank account on a specific day of the month. When the confirmation email is received, forward it to them so they can see the payment has been made.

You are also going to have to consider what will happen if you are unable to make the payments. What if, for some reason, you lose your job? This is an ugly situation, but one that should be addressed before any signature is put on paper. Take the time to discuss this matter with your cosigner and have some type of agreement in place for this scenario.

Perhaps they pick up the payments until you are able to find a job. Once you are employed again, you could either resume the payments and pay them back after the loan is paid off or if you are able, make the payment to the bank and a small payment to them to repay them for the payments they covered.

This may be quite uncomfortable to discuss, but you are better off addressing it prior to the loan signing than being faced with this reality and having no plan in place a year from now.

Basically, you want to have all of your bases covered when you select a co-signer. If you do not take the time to think things through and have these arrangements in place, you could wind up with a friend who is calling you every month to see if the payment has been made.

In extreme cases, they may call you every week just to make sure all is well with your job so they do not have to cover the payment. A situation such as this is nothing short of a lit fuse, with your temper being the bomb that goes off.