Personal loan rates for debt consolidation vary according to your credit history, income, loan amount and repayment term, so the advertised rate may not be the one you are offered. Compare the representative APR, total amount repayable, monthly payments and any arrangement fees, rather than focusing only on the headline rate. Check whether the new loan would actually reduce your overall cost and avoid extending repayments unnecessarily. If you are already struggling with debt, consider free guidance from a debt charity or an FCA-authorised adviser before applying.