Debt Consolidation Loan

Debt consolidation loans allow the borrower to consolidate all (or a proportion of) their existing loans, credit card debt, store cards, and other amounts owed into a single loan agreement and in most cases at a lower rate of interest. This provides an easier way to manage these finances.

Secured on the debtor's home, debt consolidation loans should be calculated to within the financial means of the borrower allowing one achievable monthly repayment. For more information on dealing with debt, see our dedicated Debt Resource Centre.