debt consolidation
pro's & cons

an honest overview of debt consolidation including the negatives

Lets talk about Debt Consolidation

Debt consolidation loans can be a helpful tool for managing and paying off multiple debts, but they also have their drawbacks. Here are some of the key advantages and disadvantages to consider if you're thinking about applying for a debt consolidation loan:


  1. Lower interest rates: One of the main benefits of debt consolidation loans is that they often come with lower interest rates than other types of debt. For example, credit card debt typically has high interest rates, ranging from 12% to 30% or more. In contrast, debt consolidation loans may have interest rates as low as 5% or 6%. This can help you save a significant amount of money on interest charges and pay off your debts faster.
  2. Simplified payments: With a debt consolidation loan, you only have to make one payment per month instead of multiple payments to different creditors. This can make it easier to keep track of your debts and ensure that you don't miss any payments. It can also reduce the risk of late fees, which can add to the overall cost of your debts.
  3. Improved credit score: If you're able to successfully pay off your debts with a debt consolidation loan, your credit score may improve. This is because paying off your debts shows that you're responsible with credit and can be trusted to make payments on time. A higher credit score can make it easier to qualify for loans and credit cards in the future, and may also help you get lower interest rates.
  4. Reduced stress: Managing multiple debts can be overwhelming and stressful. With a debt consolidation loan, you can simplify the process and reduce the number of creditors you have to deal with. This can give you more peace of mind and allow you to focus on paying off your debts.


  1. Upfront fees: Some debt consolidation loans come with fees, such as application fees or origination fees. These fees can add to the overall cost of the loan and make it more expensive. It's important to carefully review the terms of any loan you're considering and factor in the costs of any fees before making a decision.
  2. Risk of falling behind: If you're struggling to make your debt payments, a debt consolidation loan may not solve the underlying issue. If you're unable to make the payments on your consolidation loan, you could fall further behind on your debts and damage your credit score even more. It's important to carefully consider whether you'll be able to make the monthly payments on a consolidation loan before applying.
  3. Limited options: Debt consolidation loans may not be available to everyone, especially if you have a poor credit score or limited income. This can make it difficult to find a loan that meets your needs. If you're unable to qualify for a consolidation loan, you may need to consider other options for paying off your debts, such as negotiating with your creditors or seeking assistance from a credit counseling agency.

In conclusion, debt consolidation loans can be a useful tool for managing and paying off multiple debts, but it's important to weigh the pros and cons before making a decision. Make sure to do your research and shop around to find the best loan for your needs. It's also a good idea to consider other options and to seek the advice of a financial professional if you have any questions or concerns.


Dedicated Professional Advice

You will have a named adviser who will get to know you. They are experienced and qualified to provide you with all the help and advice you need throughout the process.  

We deal with the banks

No one likes having to deal with the banks. They will almost always ask you questions during your application and we are ideally placed to answer them. Over 15+ Years of experience and 1000's of Mortgage Applications has helped us do this very effectively. 

Named Contact

You will never become a number, not like dealing with a bank directly. Having to explain yourself over and over again to whoever picks up the phone. You will deal with us directly, we do all of the heavy lifting.

No waiting on Hold

Our Average hold time is less than 10 seconds. We spend hours on hold to the banks so you don't have to. This could have you hours of time.

Customer Success Stories
In Their Own Words


Greg and his team provided us with a first class service. It was good to have a professional service provided by a local business with a personal touch.

Alun Morgan

I'm so grateful for all your help the last few months, absolutely outstanding service, Greg always had time to answer any questions I had. I would highly recommend to anyone!

Laura Griffiths

I cannot thank bryony and Leanne enough for all there help dealing with my loan process .
Very quick responding to any questions or problems along the way.
Will definitely be using right loan wales again
Craig rutherford

Craig Rutherford

Bryony was so amazing, she kept us informed every step of the way. She was always so positive and helpful. She worked efficiently and effectively and was always able to be contacted. If she was busy she would ensure contact at her earliest convenience which was always the same day. From the start she spent the time to get to know our situation as individuals and not just another application. We Would 100% recommend. Thanks Bryony and team.

Jenna Newman

Bryony and the team at Right Loan Wales were very efficient, responsive and a joy to deal with throughout my dealings with them. I will be recommending them to any friends who need to raise finances.

Graham Brown

Bryony Davies of Right Loan Wales provided a most helpful and professional service throughout the application process. The whole team's advice and assistance made the experience very east to navigate form initial application to final offer. I would have no reservations in recommending this business to anyone seeking a loan of this nature.

Stephen Ball

Buying a house had always seemed unachievable for me, I had built it up to be something so out of reach in my mind I thought that it was something that would take years, if it happened at all! That all changed thanks to the amazing support of the guys at the Money Geeks - I approached them, expecting to be told that it wasn’t possible, and within a couple of weeks I had found my perfect house and had a mortgage offer! The whole process couldn’t have been easier for me (although I was as far away from an easy client as possible), and I can’t thank them enough for what they have done for me and my family! Thank you Greg and Ben! You are true experts - if anyone can make it happen for you, it’s these guys!

Cara Williams

From my first meeting with The Money Geeks, I was impressed with the level of professionalism and attention to detail. Their impartial expertise was second to none, and nothing was too much trouble. I will definitely use their services again! Thank you so much for supporting me from the initial advice all the way to completion and my insurances! Highly recommended!

Florence Walkey

Greg and his team at The Money Geeks were fantastic from start to finish. Greg dealt with our application personally and made what we felt was impossible, possible. We had seen mortgage advisors prior to seeing Greg and we felt we weren’t getting the right advise and guidance. As soon as I approached him he made an appointment with us and offered to call to the house making the whole experience feel slightly less formal and more comforting. He was instantly able to tell us what we needed to do and got us a mortgage offer within days. He has put up with endless nagging and nothing has ever been too much to ask. He was always at the other end of the phone if I needed him and very efficient. And as first time buyers I felt he spoke to us is in real terms helping us understand everything fully. We would highly recommend using The Money Geeks - the best service we could have asked for and money well spent.

Amy Cann


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