Why do we borrow? Cars, holidays, TVs, home improvements… the reasons might vary, but all loans mean we end up owing more. Or do they?
Debt consolidation loans stand out from the crowd. Unlike other loans, they’re designed to help people deal with the debt they already have. So they’re fundamentally different to other kinds of loan.
The principle is simple: borrowers consolidate their debts by taking out a new loan large enough to pay them all off. This can deliver three benefits in particular.
Benefits of consolidation First of all, repaying one loan is simply easier than repaying many. Rather than juggling multiple debts – paying different creditors different amounts at different times – the borrower can just make one monthly payment. Since it’s easier to manage, the borrower is far less likely to make payments late (or not at all!), which can lead to anything from penalty charges to higher interest rates, and which always looks bad on a credit rating.
Second, there’s a good chance the new consolidation loan will come with a lower interest rate, especially if it’s used to pay off high-interest debts like credit / store cards and overdrafts.
Third, a consolidation loan gives the borrower a chance to think carefully about repayment terms. If they couldn’t keep up with repayments to their ‘old’ debts, it might make sense to pay back the consolidation loan over a longer period of time. It’ll mean they stay in debt for longer (and perhaps cost them more in the long run), but it’ll reduce their monthly payments, and sometimes that’s the most important thing.
Drawbacks of consolidation However, there can be drawbacks to debt consolidation.
First, as mentioned above, paying a debt back more slowly means it’ll take longer gathering interest, so the total amount repaid can be higher.
Second, consolidation loans – unless handled carefully – come with a very real danger. When someone uses the loan to pay off their debts, they have to be very careful not to run up fresh debts (particularly tempting on credit / store cards and overdrafts, since they make it all too easy to borrow a few pounds here and a few there). So in general, debt consolidation is a solution that’s suitable for people who are confident in their ability to say ‘no’ to fresh credit. Anyone who isn’t confident could well be better off with a different debt solution.
Alternatives to consolidation Either way, it’s always important to talk to a debt adviser who understands the full range of available solutions, such as debt management plans, IVAs (Individual Voluntary Arrangements), Trust Deeds (for residents of Scotland) or even bankruptcy. Each solution is unique, and its benefits and drawbacks can affect different people in very different ways – which is why it’s so important to talk to an expert first.
Type O Negative – Too Late(Frozen)
Passion Models 1/35 Series:2 German OVM Clamp Set (Late Type) #P35-076
FUJIMI – Panzer Kampfwagen IV Tiger I Late Type 1:76
1/35 Dragon #9036 JagdTiger Late Production Type
1/48 Nakajima J1N1-S Gekko Type 11 Late by Tamiya
U-Boat Type XXVIIB Seehund (Late) (1/72 ICM model kit S007)
QUB48294 Nakajima Ki43II Late Exhaust Type B for HSG 1-
Fujimi PANZER KAMPFWAGEN IV TIGER I – LATE TYPE – sPzAbt. 505 – 1:76 Scale Kit
Dragon 1/72 IJA Type 97 Chi-Ha late prod Saipan 1944 tank 7397
TAMIYA TYPE 97 JAPANESE MEDIUM TANK (LATE VERSION) 1/35 SCALE MODEL KIT
Tamiya 25109 1/35 German Tiger I Late Type Ace with 8 Tanker figure Big Sale
Flyhawk 1/700 DKM 10.5cm/65 SK C/33 (late type) Metal B
1/35 Dragon Models #6250 7.5 Pak 40 Late Type w/ Fallschirmjager Anzio 1944
Tamiya 1/48 Nakajima J1N1-S Gekko Type 11 Late Irving Night Fighter Japanese
1/72 IJA Type 97 “Chi-Ha” Late Production, 9th Tank Reg
AFV35161 M5A1 Stuart Light Late Type Tank 1-35 AFV Club
Dragon SD.KFZ.171 Panther A Late Type Normandy 1944 unbuilt
Dragon 1/72 IJA Type 97 Chi-Ha late prod Saipan 1944 tank 7397
1/35 Tamiya Pzkpfw V Panther Type G Late Version
TAMIYA GERMAN PANTHER TYPE G LATE VERSION
TAMIYA TYPE 97 JAPANESE MEDIUM TANK LATE VERSION
Friulmodel 1/48 Panther Late Type Tracks ATL4801
Tamiya 35176 German Panther Type G Late Version
1/72 FUJIMI 72059 Nakajima B6N2 Late Type Jill
1/72 ICM S007 U-Boat Type XXVIIB Seehund (Late)
Tamiya 1/35 German TIGER 1 LATE Type Tank w/ Commander and Crew Set #25109
Voyager JO35031 WWII JAGDPANTHER G1 EARLY VERSION[LATE TYPE]
FUJIMI 1/76 RUSSIAN HEAVY TANK KV-II LATE TYPE MIB
MRC EASY MODEL 1/72 GERMAN TIGER I LATE TYPE SPZABT505
TAMIYA 1/35 GERMAN PANTHER TYPE G LATE VERSION 1944 SD.KFZ.171 PANZER MARK V MIB
Afv club 1/35 U.S. WATER BUFFALO LVT-4 LATE TYPE AF35198
AFV Club 1/35 Sd.Kfz.11 HALF-TRUCK LATE type & Wood Cab
ATL-107 Scorpion/Scimitar CVR(T) late type Friulmodel metal tracks
Tamiya #61078 Nakajima Night Fighter GEKKO TYPE 11 Late Production (Irving) 1:48
Dragon 1/35 Panther A Late Type Normandy 1944
Passion Models 1/35 Series:2 German OVM Clamp Set (Late Type) #P35-076
Tamiya 21007 1/35 German Panther Type G Late w/Tracks
ATL-79 M2 Bradley, LVTP-7, MLRS – late type “Big Foot” Friulmodel metal track
FRI4801 Panther Late Type Tank Track Link Set (210 Link
FRI4807 Tiger I Late Type Tank Track Link Set (220 Link
Nakajima Gekko Type 11 Late Production Irving 61078
FUJIMI 1/76 PANZER KAMPFWAGEN TIGER I LATE TYPE MODEL
Afv Club 35161 M5A1 Stuart Light Tank Late Type
Royal Model 1/35 Panther A Sd.Kfz.171 Late Type 322
DRAGON 1/35 ◆★ 6321 Sd.Kfz.165 Hummel Late Type ◆★
Tamiya 61078 Nakajima Night Fighter Gekko Type 11 Late Production
Dragon JAGDTIGER LATE PRODUCTION TYPE
AFV CLUB 1/35 T142 Track workable M60 M48 late type
AFV CLUB 1/35 SCALE M5A1 STUART LIGHT TANK LATE TYPE
CMK 1/35 Renault Sicherungsfahrzeug UE(f) Late Type Conversion (for Tamiya) 3098
CMK 1/35 Renault UE 630(f) Luftwaffe Type Late Conversion Set (for Tamiya) 3096
Tamiya 35176 Panther Type G Late Version – 1/35
Tamiya #35176 – Panther Type G Late Version
1/35 FRIULMODEL ATL-58 METAL TRACK (Late Type) FOR GERMAN Sd. Kfz. 9 FAMO
1/35 Tamiya German WWII Panther Type G Late Version Model Kit
1/35 Griffonmodel L35A060 Late Type Turret Side Armor Skirts for WW II German Pz
1/35 Griffonmodel LB35010 WW II German KwMG34 Barrel(Late Type)
1/35 Griffonmodel LB35023 WWII German 7.5cm Kw.K40L/48 Barrel w/Late Type Muzzle
Bronco 35007 1/35 CV3/35 Tankette Series II (Late Type)
DRAGON === IJA Type 97 “Chi-Ha” Late Production Saipan 1944 === Scale 1:72 7397
CMK 1/35 German Telescopic Tank Gun Sight Type Sfl.Z.F.1 Late (2 pieces) B35068
Trumpeter 00212 1/35 MAZ-537G Late Type w/Semi-Trailer
ICM 1/72 S007 U-Boat Type XXVIIB Seehund (Late)
Dragon 1/35 Jagdtiger Late Production Type 9036
Dragon 1/35 German Jagdtiger Late Production Type Model Kit 1/2 OFF Shipping
Griffon Model LB35010 1/35 KwMG34 Barrel(Late Type)
Flyhawk FH700146 1/700 10.5cm/65 SK C/33 (Late type)
1/35 AFV Club 35161 M5A1 STUART LIGHT TANK- LATE TYPE
TRP5908 German Type XXIII Late Production U-Boat 1-144
Fujimi 1/24 Nissan Sileighty RPS13 Late Type model kit #04559
Dragon JAGDTIGER LATE PRODUCTION TYPE
TAMIYA 1:48 NAKAJIMA NIGHT FIGHTER GEEKO TYPE 11 LATE
Mig 1/35 HMMWV Late Type Cupola 35-262
Dragon 1/35 6244 Sd.Kfz.171 Panther A Late Type
ICM7 U-Boat Type XXVIIB Seehund (Late) WWII German Midg
AFV CLUB 35198 1/35 US LVT-4 Water Buffalo Late Type
1/35 BitsKrieg BK-036 IDF Merkava IV Wheels set (Late type) with Quickwheel Mask
Aber – 1/16 German Clamps (Late type)
AFV Club 1/35 US Water Buffalo LVT-4 Late type #AF 35198
Fujimi 1/20 Ferrari F92A 1992 Late Type
Bronco AB3540 Panther Late Type Workable Track Link Set
Afv Club 35198 US Water Buffalo LVT-4 Landing Vehicle Tracked Late Type
AFV Club 1/35 AF35198 WWII US Water Buffalo LVT-4 (Late Type)
1/18 German Tiger Tank I Late Type
ICM Models S007 WWII U-Boat Type XXVIIB “Seehund” (LATE) German Midget Subm 1:72
ELEFANT 35.024 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
ELEFANT 35.025 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
ELEFANT 35.026 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
ELEFANT 35.027 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
ELEFANT 35.028 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
ELEFANT 35.029 IDF JERRYCANS LATE TYPE LARGE & HOLDERS
1/35 PANTHER LATE TYPE WORKABLE TRACK LINK SET
Dragon 1/35 Sd.Kfz.181 Tiger1 Late Type 3in1 #DR6406
Voyager JO35031 WWII JAGDPANTHER G1 EARLY VERSION[LATE TYPE]
fujimi 1/76 PANZER KAMPFWAGEN IV TIGER I LATE TYPE TANK
TAM25119 I58 Late Type IJN Submarine & USS Indianapolis
TAMIYA GERMAN PANTHER TYPE G LATE VERSION with AFTERMARKET DETAIL UPGRADES
Master 1/350 German 20mm/65 C/38 barrels [Late Type] (20pcs)
Master 1/350 German 10,5cm (4.1in) SKC/33 Barrels – Late Type (16pcs)
Master 1/48 Lockheed P-38 Lightning Late Type Armament Barrels
Master 1/350 German 20mm/65 C/38 barrels late type