Aside from offering its customers a range of car breakdown cover and insurance policies, the AA (TheAA.com) is also a financial provider, with savings and loans services available to its customers. AA has unsecured personal loans available to help its customers out financially- these loans can be used for almost any personal purpose, including buying a car, taking a family holiday or making improvements on your home and garden. The personal loans from the AA can also be a useful tool in managing your debt.
Debt consolidation loans allow customers to take out one large, low interest loan over a longer term that can be used to pay off any outstanding debts. This consolidates all of the debt into one manageable monthly repayment, giving those who are struggling to deal with debt a chance to simplify their repayments down. Debt consolidation loans can often be cheaper to repay than higher interest repayments from credit cards or store cards, and because they often offer longer loan terms, the repayment amount may be smaller, although it will take longer to eliminate the debt entirely.
The AA has debt consolidation loans designed to help its customers manage their debt effectively, often at a low interest rate and with flexible repayment terms. AA loans also have no arrangement fees, so it won’t cost you extra to take out the loan. Customers can borrow anywhere from £1,000 to £25,000, depending on how much debt you need to repay with the loan, and the repayments can be spread over one to five years.
In order to apply for an AA debt consolidation loan, you must be between the ages of 25 and 70 and have been a permanent resident in the UK for at least three years. You’ll also need a bank or building society account with direct debit facilities, and a minimum income of £12,000 (gross) each year.
Customers can apply for a debt consolidation loan from the AA online to receive an instant decision.
