Consolidating a student loan

Meeting the minimum eligibility criteria is no guarantee of approval for a debt consolidation loans, but there certainly isn't any point applying if you don't meet all of the minimum criteria.

Read more about Debt consolidation loans in our u Switch loan guides.

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As a result, there would only be one monthly repayment to manage, rather than many.Read on to learn how debt consolidation loans can help you.There are obviously risks in taking out any kind of credit product, but if you are already in debt, then taking out an additional loan can potentially have a much larger impact on your finances.The lender will look at your circumstances, the amount you want to borrow, how long you want to borrow for, and your credit score to help decide if your application will be approved or declined.The smaller your debts and the better your credit rating, the more chance you have of getting a loan, so if there's anything you can do to improve your situation prior to applying then be sure to do so.

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