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    Debt consolidation loans can be used an effective way of resolving financial issues but doing so requires discipline, according to one expert.

    Almost 40 per cent of loans taken out in Britain are used for debt management purposes and David Kuo, head of personal finance at Fool.co.uk, is convinced of their usefulness under certain circumstances.

    However, Mr Kuo has also warned that if borrowers are not realistic about their debt problems they can find that a consolidation loan will make them worse.

    "Consolidation loans can be a welcome lifeline [but] you need great discipline to stop it from being a noose around your neck," he said.

    Explaining his assessment, Mr Kuo pointed out that his own price comparison company’s research found that most people who use loans for debt consolidation ultimately add to the scale of their arrears.

    Across England and Wales, Citizens Advice bureaux are approached by thousands of indebted British consumers each week.

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