RateSetter has outlined the benefits of a debt consolidation loan, such as reducing a borrowers monthly payments.
A debt consolidation loan rolls your existing borrowing into one loan so instead of paying monthly repayments for each of your debts, you pay a single monthly payment to one loan provider.
Read more: RateSetter to stop receiving IFISA transfers
RateSetter said a debt consolidation loan gives a borrower better control of their finances with one single monthly payment on the same date each month to the same lender.
The platform added that it should allow borrowers to save money by paying off higher interest credit like credit cards with one lower rate of interest, depending on the total cost of the borrowing and any fees invo…
Read the full article at: https://www.p2pfinancenews.co.uk/2021/01/20/ratesetter-outlines-benefits-of-debt-consolidation-loans/