Together, we’ll help you resolve your debt problems in the best way for you.
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Manage your debt with debt consolidation
Debt consolidation means combining multiple debts into one simple repayment, often through a new credit facility. This can help reduce your outgoings, lower interest rates, and make it easier to stay on top of your finances.
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What is debt consolidation?
Debt consolidation is when you take out a new loan to pay off your existing debts.
Instead of managing multiple repayments, everything is combined into one simple, monthly payment.
This is usually arranged through a bank or loan provider and can make your finances easier to manage.
There are different types of consolidation loans available, and the right one for you will depend on your situation. Before deciding, it’s important to understand any interest rates, fees, or charges that may apply, so you can make the best choice for your financial future.
Benefits
Here’s how a Debt Consolidation loan can help you regain financial freedom:
Single monthly payment
No more chasing creditors
Potentially lower interest rates
Considerations
While debt consolidation can make repayments simpler, it’s important to be aware of a few key points:
Obtaining a loan
You’ll need to qualify for a loan large enough to cover all your existing debts. Approval will
depend on your credit profile and affordability.
depend on your credit profile and affordability.
Secured or unsecured
Some lenders may require security, such as a charge on a property, or ask for a guarantor.
Others may offer unsecured loans, usually at higher rates.
Others may offer unsecured loans, usually at higher rates.
Affordability
It’s vital to check that the loan is affordable over the full term, monthly repayments and interest should fit your budget without creating further financial strain.
Interest rates
The cost of a consolidation loan will depend on the interest rate offered by the lender. Rates can vary depending on your credit score, the type of loan (secured or unsecured), and the length of the repayment term. Always compare options carefully, as higher rates could mean paying back more overall, even if your monthly payments are lower.
we’ve helped over 1000 people find debt freedom
how to get a debt consolidation plan
1. Get advice
Speak to one of our friendly advisors and we’ll assess your financial situation.
2. Explore your options
We’ll explain the different debt solutions available and help you decide if consolidation is the right fit.
3. Create a tailored plan
Together, we’ll build a repayment plan that’s manageable and designed around your budget.
4. Start your journey
Once your plan is approved, your loan will be set up and you can begin working towards financial freedom.
customer feedback
Here's what previous customers have to say.
frequently asked questions
How does debt consolidation work?
Debt consolidation combines multiple debts into a single loan or repayment plan. Instead of paying several creditors separately, you make one monthly payment, usually at a lower interest rate. This can make your finances easier to manage and reduce the total amount you
pay overtime.
pay overtime.
Is it hard to get debt consolidation?
Getting debt consolidation is straightforward if you meet basic eligibility requirements. Lenders usually consider your income, credit history, and ability to make repayments. Our advisors can guide you through the process and help you find a plan that works for your situation.
How much does it cost?
The cost of debt consolidation depends on the loan amount, interest rate, and repayment term. While there may be fees, many people save money overall because they replace high-interest debts (like credit cards or payday loans) with a single, lower-rate repayment.
Can you take out a loan to consolidate credit card debts?
Yes. Debt consolidation loans are often used to pay off high-interest credit card balances. By combining them into one lower-interest loan, you could reduce the total interest paid and make your monthly repayments more affordable.
Is a debt consolidation the best option for me?
Debt consolidation can be a great option if you’re juggling multiple debts and want simpler, more affordable payments. However, it depends on your income, credit rating, and the terms available to you. Our advisors can help assess whether consolidation or another debt solution is better for your situation.
Is a debt consolidation loan unsecured?
Debt consolidation loans can be secured or unsecured.
- Unsecured loans don’t require assets like property or a car as security but may come with higher interest rates.
- Secured loans are tied to an asset and usually offer lower rates, but your asset could be at risk if you fail to make repayments.
- Unsecured loans don’t require assets like property or a car as security but may come with higher interest rates.
- Secured loans are tied to an asset and usually offer lower rates, but your asset could be at risk if you fail to make repayments.
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Take Back Control of Your Debt
Taking back control of your finances doesn’t have to feel overwhelming. At Care About Money, we make the process simple and supportive, keeping you informed at every stage, so you know exactly what to expect.
We will call you to discuss your circumstances.
We help you decide on your best course of action.
We will help guide you through the process.
Care About Money Limited
Registered Office: The Granary 50 Barton Road, Worsley, Manchester, England, M28 2EB. Registered in England and Wales Registration number 13444035. ICO registration number ZB723901.
Care about money Ltd FRN 962287 is an appointed representative of Promethean Finance Limited FRN 662425.
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.
Care About Money does not directly provide debt solutions, it will provide advice and refer you to one of it’s trusted debt solution providers should you choose a solution that suits your requirements. We will receive a fee if you enter into an agreement with one of our partners. Adele Cardoso is licenced as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association.
All work undertaken by Arkle Insolvency Limited and Adele Cardoso (IP number 30710) is subject to the Insolvency Code of Ethics. Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails any debts remaining will not be written off. Failure of your IVA could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected.
Registered Office: The Granary 50 Barton Road, Worsley, Manchester, England, M28 2EB. Registered in England and Wales Registration number 13444035. ICO registration number ZB723901.
Care about money Ltd FRN 962287 is an appointed representative of Promethean Finance Limited FRN 662425.
Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails, it could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected for the medium to long term. Homeowners may be required to release the equity in their property, if unable to release equity and equity is available creditors may request an additional 12 months payments in compensation.
Care About Money does not directly provide debt solutions, it will provide advice and refer you to one of it’s trusted debt solution providers should you choose a solution that suits your requirements. We will receive a fee if you enter into an agreement with one of our partners. Adele Cardoso is licenced as an Insolvency Practitioner in the UK by the Insolvency Practitioners Association.
All work undertaken by Arkle Insolvency Limited and Adele Cardoso (IP number 30710) is subject to the Insolvency Code of Ethics. Subject to eligibility and acceptance. Fees Payable. Debt write off applies to unsecured debts only and on completion of an IVA. If your IVA fails any debts remaining will not be written off. Failure of your IVA could lead to Bankruptcy, although this is rare and alternatives may be available. Your ability to obtain credit will be affected.