If you do decide to take out a loan, be careful and know what to do if you find yourself in financial difficulty.
1) Be careful with debt consolidation
Consolidating all your debts into one loan might appear to make life easier but there may be better ways to pay off debts. Find out more about how debt consolidation loans work, then get free debt advice before you make a decision. Click here for further information from The Money advice service.
2) Always read the fine print
When taking out a loan, the first thing that you should do is to take the time to read all the small print contained in the contract, even if it is a laborious task. It’s boring, and sometimes confusing but once you’ve signed for it there is only a small window of opportunity for you to spot errors and bring them to the attention of the loan company.
3) Know what to do if you encounter difficulties repaying your loan
If you’re struggling to repay your loan, you should contact your lender as soon as possible. They should be able to help you create a repayment plan to suit you.
4) Talk to us
While it is important that you keep up to date with your rent payments, we understand that things can change. In order for us to help you and not to put your home into jeopardy, please contact us as soon as you start to experience any difficulties paying your rent.