You’re sitting there one day, off from work due to the stress of your unsecured debts weighing heavily upon your shoulders. Suddenly, in the background noise from the TV you hear a fantastic deal – consolidate your existing debts into ‘one easy affordable loan’. You think wow, just what I need to get my debts under control and you get the sales blurb.Sounds great doesn’t it?Debt consolidation in the UK is not a new phenomena these days. It’s been around a while. Lots of people have taken out debt busting consolidation loans. So why is the amount of debt in the UK still rising so fast? And why are bankruptcies, IVA’s and debt counselling services stretched to their limits and running at all time high figures right now? Well people get sold on the advantages but I’d recommend thinking about the disadvantages too!Advantages of debt consolidation UKWell the interest rate normally comes down on the unsecured debt amount borrowed making the monthly payments easier to afford.Your debts come under control quickly so the annoying telephone calls and letters from irate creditors stops.Disadvantages of debt consolidation UK (this is the bit they don’t want you to think