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If someone owes money to lots of different companies, and are finding it hard to make repayments and keep on top of the debt, they are sometimes able to consolidate all those small debts into one. There are companies which offer this type of service, they talk to the companies on behalf of the person in debt and are usually able to freeze or significantly reduce interest on the debts. They take control of the finances so the person in debt only has one payment to make, as all of their previous debts are now consolidated into one. In general this is a huge help and repayments are smaller and more manageable, which enables them to pay the debt off and get that back on their feet much quicker.

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12y ago

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