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Debt consolidation Loan could be used for combining all your existing debts (Excluding Mortgage, Rent/council tax, Utility bills arrears and any defaulted Loans) and in to one Loan Repayment. This will be easier to manage, rather than making several payments to different lenders.


  • Open to Members who have saved a minimum of £50 per month with us for a minimum of 3 months AND maintain a minimum balance of £150 at the time of the application

  • Maximum loan of up to £7500

  • 26.8% APR

The easiest way to apply for a Debt Consolidation Loan is to APPLY ONLINE.

As part of the loan review process all applicants will be required to provide a minimum of 2 months’ bank statements for all currently active Bank Accounts (including savings accounts). The statements must be in a PDF format and can be sent either via email to:, Open Banking or uploaded to the Nivo app. You may be asked to provide further documentation should it be required.

IMPORTANT** If you have an existing loan product, which is up to date on repayments (not in default), you may be eligible to apply for an alternative loan product to better suit your needs.

Our expert team is dedicated to providing personalised guidance, ensuring that you understand all of your options and choose the one that best suits your situation. (Subject to our lending criteria, as well as eligibility and affordability checks.)


All rates and information is correct as of 1st June 2024


Debt consolidation will not reduce your indebtedness but if you are on high interest loans could make your Loan Repayments more affordable with a lower interest rate.

If your debts are substantial and you’re struggling to make regular repayments then debt management plan might be a more suitable solution.

Please visit our Financial Support page for more information here

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