Unsecured debt consolidation loans are less risky for you than loans secured against your property.
An unsecured loan is also known as a personal loan. If you are struggling with your finances and you don’t keep up with the repayments to an unsecured loan, your credit rating will be affected, but the loan company will not be able to repossess your home.
Unsecured debt consolidation loans are usually more expensive than secured loans because they pose more of a risk to the lender.
For more debt advice and information about other ways of dealing with your debt problems, please contact us, or use our online service, CCCS Debt Remedy.