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Debt Consolidation is a method used for managing debt. It involves taking out a single new loan to pay back several of your other debts and liabilities, so an individual has one larger loan to pay back, usually with more favourable pay-off terms e.g. a lower interest rate, lower monthly payment or both.
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Loans are subject to status and affordability. *Consolidating debts may increase the term and the total amount payable.
Before entering into any credit agreement please make sure you can afford the monthly repayments, we recommend that you seek independent advice if you are unsure of any of the terms of our agreement. There may be other taxes or costs, not paid through us or charged by us, that you have to pay in connection with the agreement.
Late repayments can cause you serious money problems. For help go to www.moneyadviceservice.org.uk
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