Is a debt consolidation loan right for me?

A debt consolidation loan could be a good option if you have lots of credit commitments and are finding it difficult to keep up with repayments. For example, you may owe money on more than one credit card, store card, overdraft or existing loan. With a debt consolidation loan, you borrow enough to pay off your existing debt and pay what you owe to one lender.

If you’re thinking of borrowing to sort out existing debt, it's important to consider your options before making a decision.

You might want to check out our 'dealing with debt' guide first.

 If you’d like to talk to someone about money worries, please get in touch with our Financial Care team on 0800 141 2261.


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