A Debt Consolidation Loan is a single loan which can be used to pay off all your existing debts. But if you are in serious debt then another debt solution, such as an IVA or Debt Management Plan, may be a more appropriate solution.
Talk free to the Debt Advice Trust about whether a Debt Consolidation Loan best suits your individual situation. As a registered not for profit organisation, we’ll ensure you get honest, impartial advice.
Lower repayments
By paying off all your existing debts such as loans, credit cards and outstanding bills, through a Debt Consolidation Loan, you should be able to save yourself a lot of money with one monthly repayment that’s much lower than all your existing debt repayments.
Easier to manage and budget
Another good reason to consider a Debt Consolidation Loan is that you only then have to worry about one single repayment every month. This makes your overall debt far easier to manage and to budget for.
Debt Consolidation Loan FAQ's
- Q: What if my earnings aren’t enough to get a large enough Debt Consolidation Loan to pay off all my existing debts?
A: Then a Debt Consolidation Loan may not be the best solution for you. An IVA or another debt solution may be a better option. Talk to us and we’ll ensure you get the best advice for your particular needs.
- Q: When is the best time to call the Debt Advice Trust?
A: Anytime that suits you between the hours of 8:00 am and 9:00 pm Monday to Friday, or 9:00 am and 5:00 pm on Saturday and 10:00 am to 4:00 pm on Sunday.
