Freephone
Debt Glossary - Debt Consolidation
Debt Consolidation is a method for easier management of debt repayments. Rather than make multiple separate monthly repayments the debtor groups their debts together into one single regular repayment. Most often the benefit of this is to reduce the amount of a persons monthly repayments and/or reduce the level of interest being charged on the debt.
In the UK consumers looking to consolidate their debts have a number of options. These options include a debt consolidation loan, an IVA (Individual Voluntary Arrangement) or a Debt Management Plan. The suitability of each option will vary according to a persons own circumstances such as the amount of money owed and current level of income.
Quick Enquiry Form
For a free consultation with one of our debt advisors simply complete the below enquiry form.