Consolidation Loans
A consolidation loan is a new loan designed to pay out your existing debts and amalgamate your commitments into a single payment.
Many lenders offer this service. The loan will usually involve a smaller total monthly payment as the interest rate will generally be less than that charged on the average credit card. It may be difficult to obtain a consumer loan if your credit rating is already damaged or if you do not display the ability to easily manage the necessary payments.
Our Trustees are able to advise you which of these options is best suited to your specific circumstances.