When you have to make high monthly payments towards old unsecured loans or credit card debts, then at some point of time you may come under financial pressure. It is better to get rid of the burden as early as possible. Well, one way could be to get personal debt consolidation loan, which is carved out especially for the purpose. However, ensure that you are not in a new financial mess.These loans pay off the outstanding amounts on your unsecured loans and credit cards or on any other bills. This means that you are then left with single monthly payments towards the new loan. Often, because of lower interest rate on the new loan, your monthly outgoings are reduced substantially. You can save money on interest payments, as old loans of higher interest are replaced by the lower interest loan.Depending on your requirements, personal debt consolidation loans are categorized in secured or unsecured options. The secured loan offer greater amount for repaying greater debts, against your home or any property of good value. This loan comes at lower interest rate. Its repayment can be made in 5 to 30 years. But, larger duration will not be wiser as you may end up making high interest payments. Chances are that you will make more payments than the debts.If you are a tenant or non-homeowner, needing only smaller amount of up to £25000, then these loans can be availed in the unsecured option, without collateral. Homeowners also can opt for the loan. However, interest rate will go a bit higher. The repayment has to be made in few years.Bad credit borrowers also are eligible for these loans if they can prove their repayment ability. But interest rate will be higher for them.To get personal debt consolidation loans at desired lower rate of interest, make a search for the right offers on internet. Usually such a loan comes through online on competitive rates. Make the loan repayments without delay for escaping another debt.