Consolidating your credit cards good idea
We are a nation of debtors, Britain owes over £1 trillion.
But rather than trying to pay off the minimum amount for each debt, a debt consolidation loan could reduce your debt to one manageable monthly payment.
You will still have to pay back all the monies owed, but with loan consolidation you may be able to reduce your monthly outgoings, pay a lower rate of interest, or be able to spread the costs out over a longer time period.
If you are careful about managing your spending, debt consolidation loans can help by: You may find yourself getting into debt for a longer period than needed, so it ‘s important to weigh up all the alternatives you could take to reduce your debts or help pay off your existing ones.
You can also reach out to your individual creditors to see if they will agree to lower your payments.