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Debt Consolidation Loans

With so many multiple debts on the go at any time, it’s no wonder we can sometimes feel overwhelmed. From credit cards to loans, catalogues and overdrafts, the list seems never-ending. That’s why Smart Money can offer you a solution that helps simplify your finances and reduce your stress. Debt consolidation loans combine your existing debts into one manageable monthly payment, making it easier for you to keep track of your spending and move towards being debt-free.

Simplify your finances

Streamline credit card payments and debts into a single monthly payment that’s easy to manage. With a fixed rate debt consolidation loan, you’ll know exactly how much you’re paying each month, and when you’ll be debt-free.

Save money on interest

Smart Money debt consolidation loans often come with lower interest rates than credit cards or other high-interest debt. It can be a smart way to take control of your finances, and save on interest along the way.

Free Financial Health Check

We’ve helped thousands find smarter ways to manage debt. Why not contact us today for a free Financial Health Check? We can help you identify solutions and get peace of mind.

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How it works

Apply online now, and you could have funds within 24 hours. Our team of debt consolidation experts in Jersey are on hand to answer any questions you may have, and guide you through every step of the application process.

Why consolidate debt with a Smart Money loan?

Credit cards

Swapping high-interest credit cards for a debt consolidation loan can be a smart move. You’ll have just one fixed monthly payment, and you could save cash with lower interest rates.


With an overdraft, you can easily get trapped in a cycle of debt and high interest rates. Get a more stable and structured approach to paying off debt with a debt consolidation loan.

Reduce monthly outgoings

Get back in control of your spending. A Smart Money debt consolidation loan can reduce your amount you pay each month, so you’ll have more cash to save.

Store cards

Don’t let store card debt weigh you down. One simple and straightforward fixed payment with a Smart debt consolidation loan can help you turn your finances around.


If you find yourself in debt with multiple catalogue accounts, it can feel overwhelming. Let us help you take control, and combine debts into one monthly payment.

Only one monthly payment

Multiple direct debits disappearing from your bank account each month can play havoc with your stress levels. Relieve the pressure with one easy-to-manage payment.


Overwhelmed by multiple loan repayments? Combining them into one single consolidation loan could save you paying different interest rates, and make more financial sense.

Pay off debt quicker

Knowing when you’re going to pay off your debt can feel like a weight has been lifted off your shoulders. Start living a smarter financial future, today.


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How does debt consolidation work?

A debt consolidation is a personal loan that you can use to pay off multiple existing debts, like credit cards, loans or store cards. It combines all your debts into one single monthly payment to your new lender, rather than having to keep track of multiple repayments to different creditors. Consolidating your debts doesn’t make them disappear, but it can help to reduce your monthly outgoings, save on interest costs and put you on the path to becoming debt-free.

What’s the difference between a debt consolidation loan for credit cards and a balance transfer?

A balance transfer, or credit card refinancing, involves transferring your existing credit card balances to a new card. These types of deals often advertise a low or 0% interest rate promotional period. But this often comes with significant transfer fees, and once the advertised interest rate expires, you could end up paying more than before. On the other hand, a debt consolidation loan can ‘pay off’ credit card balances with a lower-interest loan, leaving you with just one monthly payment to make. The interest rate on a debt consolidation loan can often be lower than on credit cards. So you could save money in interest charges, and pay off your debts faster.

Can debt consolidation improve my credit score?

Paying off high-interest debt is smart credit behaviour. Your credit score may initially drop when you take out a debt consolidation loan, but with one manageable payment each month, it can be easier for you to get your finances back on track. Making payments on time and staying on top of other bills is a great way to build up a better credit score over time. For regular tips on how to live a smart financial future, sign up for our newsletter!

Representative example

For example, if you were to borrow £5,000 over 60 months at 6.5% per annum (fixed)* (representative 13.3% APR), the total amount repayable would be £6,757.80, of which £1.757.80 is interest. This also includes a documentation fee of £100.

*The interest rate offered, and documentation fee charged on assessment may differ and the representative rate in this example may not be the rate that you receive. The rate you are offered will depend on several factors including the amount you wish to borrow, your chosen term, your personal circumstances and your credit rating. The maximum APR you could be offered is 29.9%.

Minimum & maximum loan amounts
Minimum loan amount is £2,000. Maximum loan amount unsecured is £100,000 (higher if secured).

Minimum & maximum repayment terms
Minimum repayment term is 12 months. Maximum repayment term for unsecured lending is 60 months. Maximum repayment term for secured lending is 84 months.