A debt consolidation loan is a single loan (generally from a financial institution) that allows you to repay your debts to several or all of your creditors at once. You are then left with only one outstanding loan — to the financial institution. In addition to streamlining your debts into a single payment, a debt consolidation loan may also offer you an interest rate that is lower than that charged by your creditors, reducing the money paid in interest charges. This option can be especially attractive if you have outstanding debts at a relatively high rate of interest (for example, those charged on some retail store cards or credit cards). We can arrange for a loan equal to the amount of your total outstanding debts that are currently due. In most cases, we will settle all the debts for you and, in return, you will enjoy narrowing your debt repayment down to 1 single payment per month.