Take control of what you owe. We can help with that
Combine multiple debts into one fixed monthly payment
Borrow £1,000–£25,000 over 1-5 years with a fixed interest rate
Apply online and get a quick decision
It’s quick and won’t affect your credit score
Representative 13.2% APR
Post Office Personal Loans are provided by Lendable. Post Office Limited is a credit broker and not a lender.
A debt consolidation loan helps you put all your debts, like credit cards or other loans, into one easy monthly payment. Instead of having to make lots of repayments with different interest rates, you just pay one set amount each month. This makes it easier to manage your money and keep up with payments.
If you’re finding it hard to keep track of what you owe, this kind of loan could help you get back on track.
Debt consolidation loans are made for people who want to keep their finances easier to manage and avoid missing payments.
You might have balances on credit cards, overdrafts, store cards or other personal loans. This kind of loan can help you clear those debts together.
If you find it hard to keep track of different payments or you’re paying high interest on some debts, consolidating could help.
Easier budgeting: Make just one payment per month on a fixed date, with a fixed interest rate
A single focus: Use the money to pay off credit cards, overdrafts and other loans
Stay on track: Managing a single repayment instead of several can help avoid missed payments
Know when you’ll be debt-free: With a clear schedule of monthly repayments
Potentially lower interest: The rate on your consolidation loan may be less than your other debts, such as credit cards
Improve your credit score: Regularly repaying a single loan may help improve your credit rating
We’re a trusted UK brand, working with Lendable to offer fair, transparent loans. Here’s how we can help
Flexible amounts and terms: Borrow £1,000 to £25,000 and pay it back over 1 to 5 years
Easy to apply: Our application process is quick and simple
Get the money fast: If approved, you’ll usually get the funds today
Fixed rate for the full term: Know exactly what you’ll pay each month. Our interest rates may be lower than your existing debts
Repay early option: If you can and want to, you can pay off your loan sooner
Applying for a Post Office debt consolidation loan and putting it to work is simple
Fill out a quick application, choose your loan amount and get an instant decision
If approved, we’ll send the funds to your account the same day
Use the money to pay off your existing debts, like credit cards and other loans
Enjoy the simplicity of a single monthly payment to us instead
Before taking out a loan, it’s important to check if it’s right for you. Here are a few key things to think about
You could pay more in the long run: A longer loan term can mean more interest overall, even if monthly payments are lower
Compare your choices: Look at the full cost of borrowing, including interest and fees, before you decide
Watch out for early repayment fees: Some lenders charge extra if you pay off debts early. Check your current debts first
Make sure you can afford it: Only borrow what you know you can repay. Missing payments can harm your credit score
Consolidation isn’t right for everyone: If you’re likely to build up new debts, consolidating those you already have could leave you worse off
It won’t fix spending habits: You’ll still need to manage your money carefully going forward
A debt consolidation loan could help you pay off:
Some lenders may not allow you to consolidate certain types of debt, like secured loans or mortgages. Always check the terms before applying.
Yes, you can use a debt consolidation loan to pay off credit cards, store cards and other personal loans.
Debt consolidation can save you money if your new loan has a lower interest rate than your existing debts. It can also help you avoid late fees and missed payments. But it’s important to compare the total cost of borrowing, including any fees or charges, to see if you’ll save.
It’s usually a good idea to close old accounts once you’ve paid them off, to avoid running up new debts.
If you borrow more after consolidating, you could end up with more debt than before. Make sure you’re ready to manage your money.
Debt consolidation isn’t the only way to manage multiple debts. You could also consider:
Each option has pros and cons. If you’re unsure, get expert financial advice before deciding.
If your Post Office Personal Loan application is approved, you’ll usually get the funds the same day.
Just checking your eligibility for a Post Office Personal Loan won’t affect your credit score. But if you complete the full application and accept the loan agreement, we’ll run a hard credit search that may impact your score.
Your credit score can affect your ability to obtain credit in the future. Paying off existing debts can improve it over time. But missing repayments can have a negative impact on it.
Yes, you can repay your loan early without penalty. This could save you money on interest compared with paying it off over the full term.
If you miss a payment, contact us as soon as possible. We’ll work with you to find a solution.
Read more about what to do if you’re struggling with repayments.