Consolidating all your existing debts into a single loan can be the best option for some people. Depending on your income, current repayments and level of debt a consolidation loan may lower your monthly repayments. Always remember, that reduced monthly payments do not mean reduced debt.

Consolidation is not advisable to people with debts over £10,000. That’s because taking on further debt rarely improves your financial situation. Reduced monthly payments often give a false feel good factor, but if you have secured your debt against your home you could be paying off the debt for the next 20 years. An IVA may be the best choice in this case.

Our debt solution model will advise whether or not consolidation is the right choice for your situation. If consolidation is the ideal solution then Blue Finance Management will find a loan that meets your needs at no extra cost.