Representative Example: The representative rate is 12.7% APR (fixed) so if you borrow £7,500 over 2 years at a rate of 9.44 p.a.
(fixed) plus an arrangement fee of 2.9%, you will repay £353.11 per month & £8,474.64 in total.
It may be easier to get a loan from these P2P lending websites than from a bank.
However, P2P lenders are still wary of borrowers with poor credit scores and adjust their interest rates accordingly.
They allow people with bad credit and overwhelming debt to consolidate their debts into one easy loan.
This means that instead of paying multiple credit repayments each month, an individual with bad credit can simply pay one monthly repayment, giving them more financial control and a heightened ability to pay back their debts.
The advantage of using home equity to consolidate debts is that it can significantly reduce your borrowing costs.
Even better, debt consolidation bad credit loans could allow you to secure a lower interest rate than the combined rates of your current debts.
This has the potential to save you hundreds of dollars each month!
Representative Example: The representative rate is 12% APR (fixed) so if you borrow £7,500 over 3 years at a rate of 9.76% p.a.
(fixed) plus an arrangement fee of 4.8%, you will repay £246.91 per month & £8,888.76 in total.