Make a list of all your debts. Check the outstanding balances, interest rates you are currently paying and if there are any penalties for paying the debt early.
Debt Consolidation Loans
Debt consolidation could help you manage your finances
Apply online Find out if you're likely to be approvedBorrow between £7,500 and £19,950 at our rate of
Representative 3.4% APR
Other amounts available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR. Available to existing Ulster Bank current account customers over the age of 18 who reside in the UK.
Paying too much for an existing loan or credit card?
A debt consolidation loan could be used to pay off your existing credit cards, store cards and other personal loans. You could consolidate all your debt into the one loan and only have one payment to make each month.
Taking on any new debt is a big decision; extending the term of your debt can incur more interest and cost more in the long run and sometimes an early repayment charge may apply.
Things to consider before applying
Use our helpful tools
You might want to use our loan calculator to find the right debt consolidation loan for you or our personalised loan quote to find out if you're likely to be approved, how much you may be able to borrow, the monthly repayments and personalised interest rate. There is no impact on your credit rating if you use the tool. Using the tool will help you compare your current commitments with a new loan.
Think through your options, for example using savings to reduce debt could be cheaper than a new loan.
The interest you receive on your savings might be lower than interest you pay on a loan so you might want to consider paying off your existing debt with any savings you have.
If you're struggling with excessive monthly payments you may want to speak to your current lenders, they may be able to help with a new payment plan or a re-payment holiday.