What is a debt consolidation loan?

A debt consolidation loan allows you to consolidate the money you owe on different credit cards, store cards, overdrafts and hire purchases into a single loan in order to minimise the stress of juggling payments to myriad different lenders.

Advantages of Debt Consolidation

• Obtain a fixed interest rate and fixed periodic payment so you know where you stand.
• No more juggling your finances with the risk of missing a payment and incurring penalty fees.
• Customise the loan term to suit your circumstances and earning power.
• It may be possible to obtain a lower interest rate than those charged on your other debts, especially if you've incurred penalty rates.