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Debt Consolidation Loan

Take Control with a Debt Consolidation Loan

Take control of your finances with a debt consolidation loan from Serve and Protect. We make it easy to combine your debts into one manageable payment.

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Key Features of Our Debt Consolidation Loan

At Serve and Protect, we’re committed to helping you tackle debt in a way that works for you. Our debt consolidation loans provide a simple and effective way to organise your finances and save money in the long run.

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Range

You can apply for loans between £500 and £25,000.

Repayments

You can choose repayment terms between 12 to 72 months.​

Rates

We have affordable tiered rates starting from 8% APR to 13.5% APR.

Why Choose a Debt Consolidation Loan?

Struggling with multiple debts? A credit union debt consolidation loan can help you take control of your finances with lower rates and a customer-first approach. 

Simplified Payments

One Loan, One Payment: Instead of managing multiple payments to different creditors, a debt consolidation loan combines all your existing debts into one loan with a single monthly payment.

Potential for Lower Rates

If you’re currently paying high interest rates on credit cards or other unsecured loans, a debt consolidation loan could help lower your overall interest rate.

More Manageable Payments

A debt consolidation loan might offer the flexibility of longer repayment terms, which can reduce your monthly payments. This can free up extra cash for other important expenses or allow you to put money toward savings.

Faster Debt Repayment

By consolidating your debts, you can focus on paying off one loan instead of juggling multiple accounts. This can make it easier to stay on track with a clear repayment plan, and you may even be able to pay off your debt faster if the terms are right.

Potential to Improve Credit Score

By consolidating your debt and staying on top of your loan payments, you can improve your credit score over time. A debt consolidation loan can help reduce your credit utilisation and show lenders that you can responsibly manage your debt.

A man smiling while using his laptop to consolidate debt with a Serve and Protect debt consolidation loan, showcasing ease and financial relief.
A man smiling while using his laptop to consolidate debt with a Serve and Protect debt consolidation loan, showcasing ease and financial relief.
A man smiling while using his laptop to consolidate debt with a Serve and Protect debt consolidation loan, showcasing ease and financial relief.

Things to consider

  • Total Debt and Loan Eligibility - Evaluate the total debt you want to consolidate and ensure it’s eligible for a consolidation loan. Consolidation is most beneficial for high-interest debts like credit cards.
  • Loan Term and Payments - Understand how consolidation will affect your monthly payments and loan duration. A longer term can lower payments but may result in paying more interest over time.
  • Fees for Paying Off Existing Debts - Some creditors may charge fees for paying off loans early. Make sure to account for these costs when consolidating your debts.
Can I Apply?

To apply for our Debt Consolidation Loan, you need to:

  • be eligible to join our credit union
  • be aged 18 or over
  • be a UK resident
  • be in paid employment or have a regular income and are not a full-time student
  • and not have any recent CCJs, credit defaults or bankruptcies

If your employer hasn’t set up payroll deduction with us, you can still repay via direct debit, as long as you fit in to our field of membership.

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Use our loan calculator to explore repayment options and find what works for you!
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Frequently Asked Questions

Our rates range from 8% APR to 13.5% APR, depending on the amount borrowed and repayment terms.

Absolutely. There are no penalties for early repayment, so you can take control of your finances at any time.

Yes, we run credit checks as part of our process. However, we consider many factors beyond your credit score, such as your income and financial habits, so don’t count yourself out if you’ve had a few bumps.

Unfortunately, we are unable to lend to individuals who live outside of the UK unless payroll deduction is available with your employer.

A debt consolidation loan combines multiple debts into one single loan, making repayments easier to manage and often reducing your total interest payments.

You can consolidate credit card debt, payday loans, personal loans, and other unsecured debts.

We can finance both new and used cars, provided they meet our lending criteria.

Our team is here to help with any further questions you may have. Reach out to us at 0121 700 1222 or start your application today with confidence! Apply Now.

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Ready to Apply?

It’s easy to apply for a debt consolidation loan from Serve and Protect Credit Union. During your application and after you apply, you may be asked to provide:

  • proof of identity and proof of address
  • proof of employment and/or income
  • information about your financial situation
  • your banking details so you can save with us

Start your journey to financial freedom today and see why so many trust us to help them regain control of their money.

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Notice: Scheduled Maintenance

Our app and online access will be unavailable for 2 hours on Sunday, June 8, from 4:00 AM to 6:00 AM, as we work on scheduled upgrades to make things faster and smoother for you. We apologise for any inconvenience this may cause.