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Debt Consolidation

  One of the most popular uses for a loan is Debt Consolidation. If you have a number of debts with different lenders you can save money, and make your finances more manageable, by combining your debt into one loan with one single monthly repayment.

  Unlike most loan companies we can offer loans to both homeowners and tenants.

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Debt Consolidation Example

  Mr B. from Manchester had debts totalling 9370, for which he had to pay 338.60 in monthly repayments.

Debt Type  Amount Owed  Monthly repayments  
Bank Loan4500108.24
Store Card25012.50
Car Loan3000140.02
Credit Card112056.00

  ADM Loans arranged a debt consolidation loan of 10,000 payable over 10 years. At 10.9% APR, his monthly repayments were reduced to 134.53, saving 204.07 a month - and he had over 600 cash left over to put towards a family holiday.

How much can I borrow?

  Loans of up to 500,000 are available, and we can offer debt consolidation loans to people with all credit circumstances, including CCJ's, defaults and arrears.

  Consolidating debts may increase the term & total amount payable. Loans secured on property.

Consolidation Advantages

Lower Monthly Payments

Combining all your debts into one larger one might not seem to be such a good idea, as you still owe the money and will still be in debt. The biggest advantage of consolidation is that by getting a loan with a lower rate, or spreading your repayments over a longer period, you can reduce the amount of money you have to pay out to service your debts every month. If you're experiencing financial difficulty, this may well be enough to put your budget back into shape.

Fixed Debt Repayment Term

With many unsecured debts such as credit cards, if you only make the minimum repayment then the debt will stick around for years longer than necessary. This is because the minimum payments required by most cards barely cover the interest charges, leaving most of the debt untouched. You're effectively treading water and all the while paying hefty interest charges for the privilege of doing so. Converting these debts into a secured loan will give you a fixed monthly payment over a fixed period - you'll know exactly where you are.

An End To Charges

If you're struggling with debt problems, the chances are you've made late payments or missed them altogether. This will result in penalty charges and other fees which can quickly mount up. A debt consolidation loan will put an end to that.

A Simpler Financial Life

Debt problems can quickly lead to a chaotic life as bills go unpaid and payments are late. The stresses can be enormous. Consolidation, if done correctly, can lead to a simpler life with less stress, as you only need to cope with that one monthly payment.


Possibly More Interest Overall

Most consolidation packages spread your repayments over a relatively long period in an effort to get your monthly payments to an affordable level. This can result in more interest being paid overall as you're paying interest for longer. This is not always the case though - it depends on many things, but mainly how high your interest rates are at the moment compared to the rate of any loan you get offered. Whether or not you feel paying more interest in the long run is preferable to high monthly payments, only you can decide.

Your Home May Be At Risk

The vast majority of consolidation loans are secured on the borrower's home, because this allows the large amounts usually required for consolidation to be more easily obtained. The downside is that if you get into financial difficulty and start to miss payments, the lender can start proceedings to seize your home to repay the debt. Because of this, it's vital to only take out a secured loan if you're sure you can afford to keep the repayments. Defaulting on your unsecured debt is bad for your credit rating, but you won't lose your home over it. Converting unsecured debt into secured debt makes it essential you keep on track with the repayments.

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