Alliance and Leicester have released a report outlining the best way to get out of debt, and included an endorsement for debt consolidation loans.
The company advises consumers to pay the most expensive debt off first, adding that debt consolidation loans are "normally" a good way saving money if consumers have multiple expensive debts.
Steve Gracey, an Alliance & Leicester spokesperson, remarked: "If they have got a store card at 30 per cent and a credit card at 15 per cent then obviously the store card should go first."