M&S Bank

Are your debts creating headaches and making you feel unsure about your financial future?  M&S Bank can be of help.

It is hard to keep up with all the debt payments and interest charges therefore M&S Bank has made it easy for you. Instead of having a lot of debts to pay, you can choose to pay for only one loan which will cover all the other debts. M&S Bank can help you pay for all your debts thus leaving you with only one loan to pay.

Debt consolidation explained

Debt consolidation is making one loan to pay off the rest of your debts. This may help you save money as you will only have one payment to make with one interest rate instead of many. You will have to look at the terms and conditions carefully since debt consolidation can also charge you more than your current debts. It all depends on your remaining time of payment for your current debts compared to the time period of the new loan.

How debt consolidation works

Having outstanding credit or store card balances that leave you with headaches or maybe just a loan that you’ve been struggling to repay for a while. Whatever the need may be with debt consolidation you can put all your other debts into one single loan with only one monthly payment to make. By making use of debt consolidation you will be able to avoid paying the interest on the other loans or credit cards. 

M&S Bank is a financial service focusing on retail bank operations and has years of experience in banking and loans thus making them one of the best lenders in the UK.

It is covered by FSCS which makes provision for compensation to debtors when the bank can’t meet their financial obligation. M&S Bank has its clients' best interest in mind as they provide high security when you use their digital banking service.

The requirements for debt consolidation

It is necessary to have an annual income of at least ₤10,000 which will serve as proof that monthly payments will be met. Candidates need to be UK citizens and above the age of 18. If the candidates don’t meet the requirements for debt consolidation, M&S Bank will provide offers that would both fit the requirements and the needs of the candidate or their personal circumstances.

Debt consolidation is the best option

Making a loan to pay off debt is a big decision. There is a list of options that you can choose from before changing the borrowing arrangements.

When looking into debt consolidation it is important to not only look at the interest rate and repayment terms but to also pay attention to the remaining terms of the existing loans. Comparing the outcome is of utmost importance as it can either allow you to save money or to spend more money on repayments.