Are you a homeowner? Yes No Loan amount 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 15,000 16,000 17,000 18,000 19,000 20,000 21,000 22,000 23,000 24,000 25,000 26,000 27,000 28,000 29,000 30,000 32,000 34,000 36,000 38,000 40,000 42,000 44,000 46,000 48,000 50,000 55,000 60,000 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 How soon do you need the money? Select ASAP Within Next Month Within Next 3 Months Not Urgent Purpose of loan Select Debt Consolidation Refinancing House Purchase Home Improvement Remortgage - Home Improvement Wedding Car Holiday Business Other Any UNSETTLED defaults or CCJs from the last 3 years? Yes No Uncertain Type of application Individual Joint Title Select Mr Mrs Ms Sir Dr Firstname Surname Employment status Select Employed Unemployed Self-Employed Director Director-Owner Retired Agency Worker Second Applicant: Title Select Mr Mrs Ms Sir Dr Firstname Surname Employment status Select Employed Unemployed Self-Employed Director Director-Owner Retired Agency Worker Email address Daytime phone number Evening phone number Mobile phone number Address Town County Postcode I / We agree to the terms and conditions [Ensure that your details are correct before submitting]

Personal Loans > Consolidation Loans

A consolidation loan can help you to take control of your debts and put you in a better financial situation. Most people will have some form of debt in their name, be it in the form of personal loans, hire purchase arrangements or, as is increasingly common, on credit cards. All of these debts require monthly repayments to be made, and each one adds to the strain of finding the money needed each month, if you are finding it difficult to make ends meet then a consolidation loan may be just what you need.

Consolidation loans are designed to ease your financial pressure by combining all of your existing debts, such as outstanding personal loans, credit and store card balances into a single low-rate loan. Your monthly outgoings will be reduced because the consolidation loan will spread the repayments over a greater period of time, and so giving you more financial flexibility, putting you in a better position from which to manage your finances.

Finding yourself stretched financially each month to meet all of the payments expected by you from a number of creditors can make for a very stressful situation. Under such circumstances it is very easy to let one payment slip, which will then lead to a worsening of the state of things as late payment charges are added this can easily set of a 'snowballing' of the debts. If you are finding you have little money left after meeting your loan and other debt repayments, then it may pay you to get on top of things and take the steps needed to make managing your debts easier - a consolidation loan can help to achieve this.

You may be surprised by how much debt that you actually have, with the ever-increasing popularity of credit cards, many people have debt hanging over them – and with this type of credit the interest rates will tend to be high as they are designed for short-term funding and convenience. Moving credit card and store card debts to a consolidation loan could lead to you saving money, this is because such a loan will generally have a more competitive rate when compared to the credit cards, and as such you will pay less interest on the outstanding amount.

Getting clear of your debts can seem a real struggle, and many don't believe it is worth the effort and so simply continue to meet the minimum repayments each month. This is far from the best approach, as with a little planning you can take control of your debts and clear them far quicker, which will save you money by reducing the amount of interest that you pay. For further advice on how to deal with debt, see the Directgov guide.

If you are finding it a struggle to meet the financial demands placed on you each month due to your current debts, then a consolidation loan could help you to lessen the burden placed on you. By moving your debts to this type of loan you will have the option of increasing the period over which the money is to be repaid, while this may increase the amount of interest that you pay (this will depend on the rate that you are currently paying on your existing debts), it will reduce the amount that you have to pay out each month and take off much of the financial strain.

When arranging any debt consolidation loans, you should choose a repayment period that results in a realistically affordable monthly repayment, whilst keeping this period as short as possible in order to keep down the amount of interest that you will pay in total. Consolidation loans can be a huge help if you are finding that your debts are getting out or control, or if you simply want to manage them better and have only a single repayment to meet each month.

This type of loan can ease the financial pressure that you face each month, reducing the monthly repayment amount by spreading the repayments over a longer period of time than the debts that it is replacing. This approach will take your many debts and replace them with a single, low monthly amount giving you better control of you finances and providing you with greater financial flexibility.