Bringing all your outstanding debts together as one sum and then taking a loan to cover that sum can sometimes be an option.  It simplifies your payments (paying one creditor as opposed to several) and may make it easier to manage your finances.

The decision to choose this option should be considered carefully and one of the factors to think about will be the interest rates of your consolidated loan.  Remember that potentially, depending upon interest rates, you could end up paying more for your consolidated loan than you were originally paying on your existing debts. 

You will need to take independent advice before considering this option.

^{The information provided in the Customer Advice section of our website is intended for general information purposes only. The information provided applies to England & Wales only, and is not a full statement of the law.}