Is a consolidation loan the right option for you?
A consolidation loan could be beneficial to people who have multiple outstanding forms of credit and want to simplify their repayments.
Someone taking out a consolidation loan might be able to receive a lower interest rate, cut down on monthly repayments, benefit from lower fees or charges, and potentially increase their credit score. It also can provide a little financial breathing room and simplify finances to make them easier to manage.
It is important to remember that a consolidation loan is still a form of credit. Please remember to only borrow what you can afford to repay.
To see if you could benefit from a consolidation loan, have a look at this guide from Smart Money People.
What is a consolidation loan?
