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A less-drastic measure such as debt management may resolve your dilemma.

That's why it's important to get credit counseling as soon as you see the warning signs: Your income is too low to keep up with your debt or you're borrowing from one creditor to pay another."When you reach that point, you need to get some advice on what options are there for you, whether it's working on your budget, doing some kind of debt-consolidation loan, free advice from a credit counselor, debt settlement or bankruptcy," says Russell Graves, president of the Association of Credit Counseling Professionals.

You need to consider the interest rates you're currently paying and compare these with the options here, taking into consideration any other product benefits you may lose.

Other personal loan purposes are available including; car purchase, home improvement and special occasion.

Best of all our credit broking service is free This tool is for guidance ONLY. If you have an asset you could use as collateral you could consider a secured loan/homeowner loan or a logbook loan.

It is designed to help you estimate loan repayments. Lenders have a duty to conduct affordability checks when you apply for a loan. If you plan to change your car then consider car finance options.

Representative example: Borrow £3,000 over 36 months. Or if all you need is an unsecured loan over a number of years then what about a personal loan, or a guarantor loan if you have had credit problems?

Or perhaps you know what sum of money you need, but don't know what borrowing options exist.

Holiday spending is a notoreous time when consumers rack up their credit card bills.

i Stock.com/gradyreese Debt settlement, or agreeing to pay a creditor less than you owe, should be avoided, if possible.

It's a huge mark against your credit score, and the fees and taxes you pay as a result of the settlement may offset what you save by paring down the debt.

Early repayment You may repay the loan in full or in part at any time before the final payment is due. Further borrowing If you already have a personal loan with us, you could be entitled to take out a further personal loan.

You can either: If you choose to re-finance your existing loan, your new loan amount must be at least £1,000 more than your outstanding loan balance.