For those with multiple credit card debts, consolidation into one lump sum could save you delete the "suffocating process" of paying off a number of different bills, according to an independent financial advisor.

A personal loan can take some weight off your shoulders if you have trouble paying all your credit card bills on time, rolling the separate payments into one manageable monthly figure. , said Adrian Kidd, Mint Financial Services spokesperson.

He pointed out that the annual percentage rate offered on unsecured loans is often "a lot lower" that the prices charged for credit cards.

He said the advantage of a debt consolidation plan is that "it protects your credit score as long as you maintain the payment and also allows you to pay off the capital".

Credit cards are the most common item to be paid off by debt consolidation loans after car payments and home improvements, say loan comparison service UK Personal Loan Store

Mint Financial Services said the total personal debt in the UK came to £1,345 billion in July 2007.

source:- http://www.thriftyscot.co.uk/Finance-News/082007/debt-consolidation-the-way-
forward.html