Debt is one of those things that can sneak up on us. It may start with a store loan here or a credit card there, but it can quickly spiral out of control. Before long, you may not be able to afford your monthly instalments, let alone the capital debt.
If this sounds like you, a debt consolidation loan can help. Essentially, it’s one loan that you take out to cover all your individual debts, meaning you only pay one monthly instalment. This can help you reduce collective interest rates and pay a lower rate overall.