This is the cheapest way if you repay within the interest-free or low-interest period.You’re likely to need a good credit rating though to get one of these cards.Understanding your own debt traps may help prevent you getting back into debt, because once you understand your “bad” habits you can avoid them. The aim of a debt consolidation loan is to reduce the burden of multiple regular debt repayments.Track your spending so you get a really clear idea of where your money is going.
If you can’t stop spending on credit cards, for example because you’re using them to pay household bills, this is a sign of problem debt.
Consolidating all your debts into one loan might appear to make life easier but there might be much better ways of dealing with debts.
Find out more about how debt consolidation loans work, then get free debt advice before you make a decision.
Our aim is to make the whole process of becoming debt free as simple and as painless as possible for you, and the first step is offering you a free debt consolidation comparison service. Once you've found a suitable loan, all that remains to be done is to sign up, consolidate all of your existing debts, and they pay them off with one simple, manageable monthly payment.
No longer will you have to worry about paying off several debts at once, each with a different lender and a different interest rate, with a debt consolidation loan, all of your debt is in one place.