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Bring bills and debts together into one monthly repayment.
Representative example: Amount of credit £2,000 for 24 months. Interest rate: 41.2% pa (fixed). 24 scheduled monthly payments of £123.64. Total amount payable: £2,967.43. Representative 49.9% APR.
A bill consolidation loan is a personal loan you can use to pay off selected bills or borrowing, so you manage one repayment instead of several. People often use consolidation to simplify budgeting and keep track of payment dates.
If you have poor credit, you may still be eligible. Lenders usually look at your credit profile and also whether the repayments are affordable based on your income and outgoings.
Debt consolidation is not a shortcut. It is a way to make your repayments easier to manage. Here are common reasons people choose it:
One payment to track. Replace multiple due dates with a single monthly repayment.
A clearer budget. Consolidation can make it easier to see what you owe and when it will be paid off.
Less juggling. If you are managing credit cards, an overdraft and a small loan, it can be hard to stay on top of everything.
A plan you can stick to. Fixed repayments can help you build a consistent repayment habit.
Support for near-prime borrowers. If your credit history is not perfect, you may still have options with a specialist lender.
It may cost more overall: if you extend the term to lower monthly repayments, you may pay more interest in total.
Missing payments can make things worse: late or missed repayments can harm your credit file and may lead to fees.
Keep borrowing under control: if you pay off credit cards with a consolidation loan, try not to run those balances up again.
If you are struggling to keep up with credit commitments, getting independent help can be a good first step. You can also explore our Money Guidance content for practical tips.
If you want to explore a bill consolidation loan for poor credit, start with our Eligibility Check. It is designed to show whether you are likely to be accepted before you apply, without impacting your credit score.
You may be eligible even with a less-than-perfect credit history. Lenders will usually consider affordability, income and outgoings, and your credit profile.
Our eligibility check is designed to let you see if you are likely to be accepted without impacting your credit score.
Many people consolidate credit cards, overdrafts, store cards and other personal loans. You should confirm any repayment or settlement terms with your existing lenders.
Not always. If you extend the repayment term you may pay more interest overall, and missing payments can harm your credit file.
If approved and you complete the steps in your account, funds can be paid out quickly. Timing varies by bank.
See if you are eligible for a bill consolidation loan for poor credit. You can check before you apply and it won't affect your credit score.
Credit is subject to status, affordability and credit checks. Credit is only available to UK residents aged 18 and over. Terms and conditions apply.