Take stock
List balances, repayments and months remaining.
A clearer route from many repayments to one.
Debt consolidation uses a new credit agreement to settle selected debts. It may simplify payments, but a longer term can cost more overall.
Compare properly
Look at the monthly amount, term and total repayable.
Check broad fit
Answer a few questions before sharing contact details.
Full assessment
A Consolidation Relief Financial Assessor completes the affordability and credit checks with you.
What changes, and what does not.
A consolidation loan can simplify administration. It does not erase debt, guarantee savings or repair a credit profile.
Always compare
- The new interest rate and all fees
- The new repayment term
- Total repayable, not only the monthly instalment
- Whether settled accounts will stay closed
- The effect of missed payments