LL Hero Tertiary LL Hero Tertiary

Debt consolidation loans

Debt consolidation loans

Paying off multiple debts such as credit cards, store cards or bank overdrafts, can sometimes be challenging when you don’t have access to personal savings.


${ loanTerm } monthly repayments of

£${ monthlyRepaymentAmount | formatCurrency }

Total repayable

£${ totalRepayableAmount | formatCurrency }

Check my eligibility

( It won’t affect your credit score )

Representative 39.9% APR

Representative 39.9% APR

Representative example

Borrowing £2,000 over 24 months at Representative 39.9% APR and Interest rate 39.9% p.a. (fixed) with monthly repayments of £116.07 and a total amount payable of £2,785.68 This example is for illustration purposes only. The rate and / or term you are offered is dependent on your individual circumstances Rates from 39.9% APR to maximum 69.9% APR. Loan terms from 12 to 36 months.

See what our customers say

What are they

Having to manage regular repayments alongside your monthly outgoings to a host of different lenders often requires a lot of time and effort, and can prove to be expensive, especially if you incur additional fees or interest charges. This is where loans for debt consolidation from Likely Loans can help.

Debt consolidation loans could combine most or all of your existing loans and debts into a single payment, which can be repaid in affordable monthly instalments.

direct lender loans

How do I apply?

When applying for one of our unsecured personal loans there are three simple steps to follow:

1. Tell us a little bit about you

2. Get an instant response

3. Money next working day

Why use a debt consolidation loan?

For those with bad credit, debt consolidation loans can be particularly effective, as they are usually a far more manageable way to pay off debt compared to repaying multiple loans. Finio Loans offer effective debt consolidation loans for bad credit from £500 to £5,000.

At Finio Loans, we offer debt consolidation loans with bad credit over 12 to 36 months, so you have extensive options for consolidating your debt. Some of the other main advantages of consolidating debts with a loan from us are that:

  • There are no additional fees to pay

  • The repayment process is as transparent and straightforward as possible with easy access to your loan amounts

  • You can ensure that your loan to consolidate debt is right for you

  • You pay just one rate of interest on the total amount of money you owe

  • You could potentially improve your credit score if you successfully pay off the loan without accruing further debt

Laptop geometric arch

Apply for a loan


${ loanTerm } monthly repayments of

£${ monthlyRepaymentAmount | formatCurrency }

Total repayable

£${ totalRepayableAmount | formatCurrency }

Check my eligibility

( It won’t affect your credit score )

Representative 39.9% APR

Frequently answered questions

What is a debt consolidation loan?

A debt consolidation loan is where you borrow enough money to pay off all your existing debt with other lenders, leaving you with only one lender to repay and one fixed interest rate. This makes it easier to keep track of your amount repayable, interest payments and monthly instalments as it’s all in one place. However, we encourage you to work out if consolidation loans financially make sense as sometimes spreading the loan repayments of a larger amount over a longer-term can mean you pay more interest.

How many debts can I consolidate?

There’s no limit to how many you can consolidate, although we offer between £500 and £5,000 for our debt consolidation loans with bad credit, so if your debts total to more than that, you may need a different solution.

Do I have to pay off all my debts with the loan?

No, that is your choice. However, if you choose to keep some loans open, such as credit card debt, this may affect your eligibility to take on additional credit.

Will the money be paid directly to the other lenders?

No, it will be paid to you and then it’s up to you to repay your loans separately.

Can I get a debt consolidation loan with a bad credit score?

With the ability to shop around online for different types of loans, getting rejected by your bank isn’t necessarily a problem as lenders like Finio Loans may be able to give you access to bad credit loans despite a low credit score. We understand that your financial history may not reflect your position now, so when applying for a debt consolidation loan with bad credit, lenders will look at your current financial situation and other indicators to decide whether you’ll be able to afford the fixed monthly repayments on the loan.

If you’re worried about being rejected because of your bad credit history, you can check your eligibility with us without having an impact on your credit score. We do soft search credit checks which mean your credit ratings won’t be affected at this stage. Simply enter a loan amount and term into our online loans calculator to receive your loan quote.

Can I get an unsecured debt consolidation loan without a guarantor?

Yes. We offer unsecured loans which mean you neither need to secure your loan against your assets nor need someone else to be a guarantor as part of your application.

Can I get a debt consolidation loan with no credit check?

No. Responsible lending is our priority so we carry out credit checks to make sure we aren’t lending to anyone who can’t afford it.

What is the criteria to get a debt consolidation loan?

As with most loan providers, our lender requirements are that you’ll need to be over 18, a UK resident, employed and have a bank account and debit card to complete a loan application. In terms of income, you should be able to comfortably afford monthly payments from your regular income - for example, as a guide, £700 per month would be a minimum. We’ll look at your credit history and personal finances before making our decision.

How long will it take before receiving the debt consolidation loan?

Applying for any loan with Finio Loans is quick and simple and you’ll find out if you're eligible within minutes. After that, you should have your money in your current account the same day.

What is an APR?

APR is the annual percentage rate and important for calculating the cost of money borrowed. Interest rates, fees, how often it’s charged and all other costs contribute to the APR. Representative APR is the APR we'll offer to at least 51% of people who are accepted - it's not a guarantee. The remaining customers that are also accepted will be offered a different APR than the one advertised based on individual circumstances. Please note, the APR offered is based on your personal situation and is dependent on many different factors. As such the APR offered may be different from the representative APR.

Will I pay a higher rate if I have bad credit?

Yes, you might. As a lender, we offer our representative APR of 39.9% to at least 51% of customers who are accepted for a loan. If you have bad credit, you may be charged a different rate.

What repayment terms are available for debt consolidation loans?

For a debt consolidation loan, you can borrow £500 to £5000 from 12 to 36 months and pay in monthly instalments.

Can I top up my debt consolidation loan?

You may be able to top up your loan in the future if you become eligible. You can check your eligibility through your online account.

Bg splashscreen lifestyle 1

Instalment Loans

You can apply for a variety of instalment loans online with different monthly payment options, quickly and easily with us. Our instalment loans can range from £500 to £5,000.

Laptop loans

Open Banking Loans

An open banking loan from Finio Loans could help you with the finance you need. We offer loans from £1000 to £10,000, get a quick quote online today.

LL Hero Primary

No Guarantor Loans

If you have bad credit or a poor credit history, this can be a barrier to you finding the finance you need, and what's more, you can often need a guarantor to secure a loan before you take one out.