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Pegasus Personal Finance

Call0800 066 2882

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This does not constitute a quote, rates may vary depending on personal circumstances.

I see you offer debt consolidation loans and am hoping you might be able to help. I have a car loan which I owe about £6500, a bank loan of £8000 and two credit cards which total £16000. So not a total mess but my total repayments including the minimum credit card payments are now getting on for £900 and that’s without paying the credit cards off. I own my house but don’t really want to add it to my mortgage so wondered what you could do to help reduce my repayments without having to pay back over 15 years!

Hi Jeremy,

Thanks for your email about debt consolidation loans.

Don’t panic too much, your situation is not unusual and the answer could be to consolidate all of your loans into one lower payment as long as you realise you will probably end up being a bit more interest in the long run.

However, credit cards can be expensive so we should be able to get you a lower interest rate which will help offset the longer loan term.

As a home owner you should also be able to obtain preferential interest rates for a debt consolidation loan so it would be well worth trying to see what the best deal we can get you will be.

There is no obligation so you can either phone one of our debt advisors on 0800 066 2882 or complete our easy online application form and we’ll contact you as quickly as possible.

We look forward to hearing from you.

About The Expert

Pegasus Finance is a trading style of The Car Loan Warehouse Limited

The Car Loan Warehouse Limited is authorised and regulated by the Financial Conduct Authority. Our registered FRN is 662397. Registered Company No. 08127935. All finance is subject to status and income. Applicants must be 18 years or over, terms and conditions apply, guarantees and indemnities may be required. The Car Loan Warehouse Limited is a broker, not a lender and can introduce you to a number of finance providers based on your credit rating and we will receive a commission for such introductions. Written quotation on request. Certain exclusions for Northern Ireland residents. Borrowing £8,000 over 48 months with a representative APR of 14.9%, an annual interest rate of 7.7% and a deposit of £0.00. 48 payments of £218.49 per month. Total cost of credit being £2,487.57 and a total amount payable of £10,487.57. Terms available 12-120 months, 5.9%-49%APR. Pegasus Finance do not provide financial advice.

We can introduce you to a limited number of lenders that offer finance products, but we do not offer any advice or recommendations. We do not charge you a fee for our services, but we receive commission from the lenders we introduce you to. The commission we receive is either a fixed fee or a percentage of the amount you borrow but the existence of commission does not affect the amount you will pay under the agreement. The commission we receive varies depending on how you are introduced to us, which lender we place you with, and which finance product you choose. We will pass a proportion of the commission we receive to the motor retailer that introduced you to us. The commission we receive and pay will not affect the amount of interest you pay under your credit agreement, when compared to customers in circumstances similar to you. We will always introduce you to the lender that provides products for your needs, at the interest rate suitable for your credit profile. If you ask us, we will tell you the amount of commission we are paid for introducing you to the finance lender.

Pegasus Finance, Technology House, Station Road, Alton, GU34 2PZ