A debt consolidation loan is a loan taken out to repay (consolidate) other loans or debts in to one larger debt and therefore one monthly payment. You may have a number of debts such as credit cards and other loans with increasing and difficult to manage monthly payments.
A consolidation loan can reduce your total monthly outgoing and make managing these debts easier.
You can apply for a consolidation loan if:-
X-debt do not assist clients with any type of investment advice and you should seek specific advice from an independent regulated person at the Financial Conduct Authority. The above information is generic information and should not be constituted as specific advice to an individual.
If you are struggling with your debts and considering taking out a consolidation loan there maybe a more appropriate solution including an IVA.Contact us now on 0800 043 2424 to speak to an advisor.