A debt consolidation loan is a way of repaying all of your outstanding debts by taking out a single, large loan.
If, like many of us, you owe money to lots of different people, you know how complicated it can get to keep all your finances in line and eventually you may begin to miss regular payments which could lead to your debts spiralling out of control.
With a debt consolidation loan, you take out a loan large enough to repay all of your debts leaving you with just one manageable debt.
- Only one debt to remember to pay.
- Just one interest rate.
- Easier to manage.
- May improve credit rating as you pay off other debts.
- You’re taking out another loan.
- Could be high interest rate.
Finding the right debt solution can often be a daunting task – that’s where we come in!
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