If you’re wondering whether the government gives grants to people to pay back their dues, the answer is no.

There are however, a number of other options to try, which could help ease your situation.

I have compiled an article about debt consolidation grants, and some of the programs where you can get debt consolidation loans from.

Let’s dive right in!

How Do Debt Consolidation Loans Work?

Debt consolidation loans are a way for you to combine your multiple creditors into one. 

If you owe multiple businesses in England money. You can actually combine and set up a single loan to pay back all of their debts. This is called debt consolidation.

In the UK, debt consolidation loans are hard to get. There are some very specific conditions that apply when someone wants a consolidation loan. The details of some of the loans are given ahead in the article.

The key in getting a profitable consolidation loan is negotiating a low interest rate on your loan. If you negotiate a lower rate, you will be saving that money up instead of paying it to businesses you owe money to.

Fortunately in the UK, the average apr for consolidation loans is low. This will help you in getting a good interest rate for your debt. Moreover, you have a lot of options available to you when taking a loan. 

Different companies actually offer different ranges of loan. Debt is very in fashion in the UK and the market has adjusted itself according to it.

Programs For You To Consolidate Your Debt

There are multiple programs in the UK which allow you to better your debt situation and pay back your dues. The details of some are given below.

Hastings Direct Personal Loan

This is a company providing assistance to people in need of money. However, the people who can apply for this loan are pretty specific


The minimum income of the people applying should be £10,000. The loan amount being given ranges from £1000 to £25,000. The credit rating of the customer applying for a fund must be good.

Also, you only may be able to get this loan if you are a homeowner in England.

Freedom Finance Personal Loan

Freedom finance is another option for anyone looking for anyone looking for financial assistance. 

To get a loan from here, you need to be a UK resident. You’ll only get help if your minimum income is £12,000. It does help that the company isn’t that particular about your credit score because you only need a moderately good credit score to apply.

There are some more criteria that need to be met. The personal taking the loan may only do so if he is between 18 and 70 years of age. The loan amount is between £1000 to £25,999. 

There is no way you can get a loan if you don’t meet this criteria. This is why it is extremely hard to get debt consolidation grants because companies have very specific criteria.

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Debt Consolidation Grants

There are no government agencies offering debt consolidation grants. You can only get a debt consolidation loan in the UK. The only way you can get a grant is if you apply for debt relief and successfully get a debt relief order.

If you get a relief order, you will get some of your debts written off. The UK government will force your creditors to write off a portion or the entirety of your debt if you are in need of help and absolutely cannot pay back the debt and don’t have any assets either.

There are no other ways to get debt consolidation grants in England other than that.

FAQs

Can I Get A Grant To Pay Off My Debt?

No, UK government agencies don’t give out any grants to help you with your debt. However, you can opt for a program authorized by the UK government so that you may be able to pay back your loans.

Do Debt Consolidation Loans Hurt Your Credit Score?

Yes, debt consolidation loans do hurt your credit score. It is advised to get your situation analysed professionally before getting a consolidation loan. You need to have all the information and details of the process before you make a decision.

Who Qualifies For Debt Relief?

Debt relief is also an alternative to get your debts written off. However, keep in mind that only people who don’t have a lot of assets and have a low level of debt too can qualify for debt relief


You can contact services for professional advice and to help you in getting debt relief from your creditors. 

Is It A Good Idea To Get A Consolidation Loan?

It is a good option to pay off your loans but it isn’t for everybody. Get professional help when you’re making a decision as to what option to go for. In England, the UK government has given the public a lot of options for them to pay back their debts. 

You need to search these many solutions to figure out what’s best for you. Or you can get professional assistance to make the process easier.

Wrapping It Up

In England, debts are very common.

This is why there are many more options as well to pay off your loans.

If you need more information on such a solution, keep reading the articles on our website to get your questions answered.

If you have more questions, feel free to contact me on the email provided.

Good luck!

About the author

Scott Nelson

Scott Nelson is a financial services expert, with over 10 years’ experience in the industry, including 6 years in FCA regulated companies. Read more
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