Take the time to compare debt consolidation loan rates and do the sums for your own circumstances - you could be surprised.
If you've decided to look into a debt consolidation product, you should be aware that the best deals will only be available to customers that the lender judges to have the best credit scores.
If you're having financial problems, a debt consolidation loan can be a lifeline, potentially reducing your monthly outgoings.
Not only that, it should make managing your deficit easier because you'll only have one monthly repayment to think about.
This means that they're secured against your home or another significant asset.
Even if your finances are fairly healthy, consolidation can cut your monthly outgoings, leaving you more money for savings, to help with rising bills, or to pay back your loan more quickly (subject to terms and conditions).Remortgage rates may be attractive, but pay attention to arrangement fees and other costs.If you can find the right credit card and manage it responsibly it could be an attractive alternative to a loan.You should think very carefully before consolidating personal loans and other unsecured debt into a secured loan.While the repayment rates are likely to be more attractive you must always remember that your home or other asset is at a greater risk of repossession.