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Debt consolidation loans - Read our guide here.

If you have a poor credit history, you may have struggled to access loans in the past. But, here at LittleLoans we specialise in providing loans to everyone, regardless of their credit rating.

If you are struggling to make your debt repayments, a debt consolidation loan could help you reduce monthly payments and spread them over a longer period of time. For example, our lenders can provide loans of up to £5000, with repayment periods available of up to 36 months.

What is a debt consolidation loan?

Here at LittleLoans, we can help you take control of your finances, with our debt consolidation loans. Whether you need to pay off an existing credit card or clear an outstanding loan, we offer a straightforward loan application process. Whether you have an excellent credit rating or a poor credit history, we can find the ideal lender for your requirements.

As a broker, we have partnered with lenders which provide loans for almost every situation. Simply complete our online application form and we will match you to the ideal lender. As part of our application process a soft search will be conducted of your credit file, this gives an idea of the likelihood of your application being approved.

You will then be presented with your debt consolidation loan offer, which you are under no-obligation to accept. If you choose to proceed with the loan, the lender will conduct a final credit check before releasing your funds.

The benefits of a debt consolidation loan

Instead of balancing multiple debts, it is possible to consolidate your repayments into a single, affordable monthly payment. Although, you may end up repaying the loan over a longer period of time, resulting in a larger amount paid overall.

By consolidating your debts, your credit rating could improve. This is because having multiple debts at any one time indicates that you are not managing your finances well. By creating a financial plan and repaying your single debt consolidation loan repayment each month, it is likely that your credit rating will soon improve.

By partnering with lenders which are able to offer competitive debt consolidation loans, it may be possible to reduce the amount of interest you pay. If you have taken out high interest forms of credit in the past, a new loan with a lower APR could reduce the amount of interest you pay.

Although, it can be tempting to ignore your mounting financial issues, a new debt consolidation loan could help you take back control. As with all loans, it is important that you consider all options before taking out a new loan. The Money Advice Service and Step Change are available to offer you free financial advice.

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Representative Example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. We’re a fully regulated and authorised credit broker and not a lender