Financial emergencies are a recurring phenomenon is everyone’s lives. It is human nature to solve the problems at the moment, without thinking about the consequences. This leads to problems and debt. Once you get into the habit of loaning out money for even the smallest of reasons, it is difficult to come out of the problem. Then there comes a point in time, when you are a labeled debtor. What do you do when all your creditors sit on your head, demanding for repayment? The solution is to opt for Debt consolidation loans.Unsecured debt consolidation is of two types. Secured and unsecured. The primary difference between the two is that in case of secured cash help, you are required to mortgage some land holdings with the lender on terms of security, which need not be done in case of unsecured cash help.Debt consolidation loans can be taken by you to clear off all your current debts. Once you are a labeled debtor, you must make sure to clear them all to save your name in society. Hence, the lender gives you a wide range of total cash amounts to choose from. Your cash limit starts from £250 to £250000. As the lender understands that you would need sufficient time to repay your borrowings, you are given a time period ranging between 6 months to 25 years. Even though, on most occasions this time period is sufficient, you can also request the lender for an extension, sighting valid reasons. If the lender is ready to consider your reason, you will be granted an extension. You must note that this comes with an added interest rate.Debt consolidation loans come with advantages and disadvantages of their own. In case of secured debt consolidation loans, its advantage is that the interest rate charged is lower than unsecured type. Its disadvantage is that you must also make sure to mortgage some property with the lender as security. You must make sure that the value of the property is in accordance with the total amount borrowed. You must also make sure to repay your loan within the stipulated time; otherwise your property will be ceased. Now with Secured debt consolidation loans you can effortlessly get hold of advances at the right time.In unsecured type of advances, its advantage is that you are not required to mortgage any property with the lender. Hence, its disadvantage is that the interest rate charged is higher than secured type. As this puts the lender at a risk of losing a high amount of cash, you must prove your capacity to clear your loan, by showing that you have an adequately paying job.To be eligible to receive Debt consolidation loans UK, you must be a citizen of the United Kingdom. You must also be above 18 years of age. Along with that, you must be a salaried employee of a company along with an active bank account. In case of secured monetary help, you must hold land which you must mortgage.