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If you’re constantly borrowing from payday loan companies, the interest will quickly rack up and you may find yourself in an awkward position. With Consollo, you can consolidate those loans by borrowing between £1,000 and £5,000 and repay over a period of between one and three years.
We know that when it comes to money, not everyone fits the same mould. A low credit score can mean that you won’t be considered for a loan, no exceptions, until now. We are happy to overlook your credit score providing that you can provide a guarantor – someone to ensure that you can make the repayments, and, should you not be able to repay, will make the payments on your behalf.
What’s even better, is that apart from getting the loan you need, your repayments will also help to build your credit score, and leave you in a better financial position once the loan has been paid off.
So if you’ve been rejected by other loan companies, don’t give up. We don’t judge you based on what a computer says. Our decisions are made by people, and if we feel that we can trust you and your guarantor to pay us back, then we’ll happily give you a chance.
There are a number of ways for you to pay off your loan – the easiest is by direct debit, which can be set up to make regular payments until your loan is completely paid off. You can also pay by card over the phone – whatever is most convenient for you.
Payday loans are infamous for their high interest rates. At 49.9% APR, you’ll be miles better off borrowing with Consollo. With payday loan companies, you could be paying around forty times more interest on your loan than you would with us. Don’t get caught out, make the smart choice.
We want to avoid late payments as much as you do. If you find that you’re having trouble making the repayments, don’t let it become a bigger problem than it needs to be. Get in touch and we’ll do our best to work something out for you. Where your loan is guaranteed by another, it does mean that any payments you are unable to make will be passed onto them.
In rare circumstances, where we can not reach an agreement with the borrower or their guarantor, we will pass on the debt to a collection company or let a court make a judgement on how the issue should be resolved. Regardless of the outcome, neither yours nor your guarantor’s home will be at risk.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.