Debt consolidation loan

If you are struggling under the burden of unmanageable debts a debt consolidation loan is one option for getting to grips with your finances. It makes sense to compare debt consolidation loans before choosing.

Debt consolidation loans can allow you to bring all of your debts together under one plan that can involve one single payment each month making the process a lot easier to manage. Debt consolidation advice can be useful in certain circumstances.

A debt consolidation loan can pay off all your existing individual debts and then transfer your new debt to the debt consolidation company and you then make the repayments to them. Debt consolidation loan rates can vary so it is important to compare the market.

The advantages of a debt consolidation loan are that overall your monthly repayments can reduce and the interest you pay can be lower. Additionally, you may have just been repaying interest on your old debts which means that you will continue repaying the dent for much longer if you never repay the capital amount as well. A debt consolidation loan can help the borrower achieve this.

	Derbyshire BS cuts personal loan rate to 5.1 per cent The Derbyshire Building Society has cut the rate on its personal loans between £7,500 and £10,000 to just 5.1 per cent taking it back to the top of the best-buy tables along with the Clydesdale.
	Will a debt consolidation loan be cheaper? A reader from Norfolk is looking at a debt consolidation loan and wants to know if will be the cheapest option.
	Clydesdale Bank cuts loan rates to leap to top of best-buys The Clydesdale and Yorkshire Bank has cut the rate on personal loans between £7,500 and £15,000 to 5.1 per cent beating the Tesco Bank deal to go to the top of the best-buys.
	Sainsbury's Bank cuts personal loan rate to 5.4 per cent Sainsbury’s Bank has cut the rate n personal loans for Nectar card holders to just 5.4 per cent for people who borrow over a one to three-year term.
	M&S unveils best-buy personal loan rate at 5.5% Marks & Spencer has launched a new personal loan for applicants who want to borrow between £7,500 and £15,000 over a 1-5 year period at just 5.5 per cent.