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It might be difficult to imagine from where you are now, but taking control of your existing borrowing can be simple. By bringing it all together in one place with a debt consolidation loan, you could get on track to becoming debt-free.
This is a personal loan that you can use to pay off your other loans, credit or store card balances.
If you refinance existing debts, you may pay a higher rate of interest or make repayments over a longer term with a debt consolidation loan. This means you may pay more interest overall.
If you qualify for a loan, we'll tell you the rate that applies when you get your personalised quote.
Other amounts and terms are available at different rates.
Apply for a debt consolidation loan
With Halifax it's easy to apply for a debt consolidation loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers:
Our debt consolidation loan is just a personal loan you use to pay off other debts you currently have. These debts could be credit cards, store cards, overdrafts or other existing loans. You’ll then only have one monthly repayment at a fixed rate of interest rather than several different payments at different rates.
You can apply for a debt consolidation loan if:
We will then run several eligibility checks based on your information to determine whether you qualify for a debt consolidation loan, or not.
When you apply for your debt consolidation loan, we’ll tell you how much your monthly repayments will be. This is a fixed amount that won’t change. Direct Debit repayments will start the month after you apply. You can choose a date in the month that suits you and change it if you need to.
If you want to, you can make extra payments with no charge. However, if you pay the loan off early, we may charge you up to 58 days’ interest.
If you miss a payment then we’ll try and take it again within 7 days. If we still can’t take payment then we will charge you £25. You may be charged further if you miss more payments. Full details will be provided when you apply.
Yes. As our debt consolidation loans are personal loans, they are unsecured. This means that the loan isn’t linked to your home.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.