A simple way of describing debt consolidation is to look at the process of adding the amounts owed on all your existing loans, credit cards and store cards and coming up with a total. Let’s say, for example, that the total is £17,000. To carry out debt consolidation you would then be looking to take a new loan with a bank or lender for £17,000 – you would then use this £17,000 to pay all your existing loans, credit cards and store cards. You would then be left with just 1 loan – and not a combination of debts.

So why would you do this? Normally debt consolidation loans involve taking the loan over quite a long period of time – therefore reducing the amount you pay per month.

But you don't NEED to borrow extra money to carry out debt consolidation.

Another way of carrying out debt consolidation is to look at the products we can offer at Debt Help Quick. We can offer debt management and IVA products from a variety of providers therefore maximising your chances of reducing your monthly payments or possibly even at options to make you debt free in the near future. A quick application with us and we can then explain to your options @ http://www.debthelpquick.co.uk.