Debt Consolidation

Debt consolidation is the process of combining your existing debts into one single debt with a single regular repayment, usually by taking out a personal loan.

The advantage to consolidating your debts is that you can often get a lower interest rate (thus saving money), and it's a lot easier to keep track of your repayments and outstanding debt when dealing with a single loan.

Most personal loan companies will offer special packages for debt consolidation.