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Reduce all your current interest rates and
consolidate all your existing creditor.
Find out if Debt Management is the best option for you
We will select the best advisors to help you save money every month See how much you can save - Try our FREE 60 second debt calculator
What is a Consolidation Loan?
Consolidation Loan - Pros (Advantages)
One affordable monthly payment.
A Consolidation loan is often a lower interest rate, than uour unsecured debts
No more hassle from multiple creditors as they will have all been paid off with your Consolidation Loan
Longer repayment period means lower monthly payments.
As long as you don't miss any monthly payments, it will help to rebuild your credit rating.
Depending on how much cash you take, you may receive more at a later stage.
Consolidation Loan - Cons (Disadvantages)
A longer repayment term.
New terms and conditions may alter any agreements that you had with your unsecured creditors.
You may not be able to roll all your debt into the new loan, meaning that you will still have unsecured creditor commitments
to make (Unlike with an IVA or
Debt Management Plan)
It can sometimes be difficult to get accepted for a consolidation loan if you have a poor credit history.
Risk of getting further into debt if you continue to spend on the cards that you consolidated.
Though there are restrictions, you may move to a different property
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