Debt Consolidation
Debt consolidation combines eligible existing commitments into a single repayment arrangement.
Understand the trade-off
A lower monthly payment can make budgeting easier, but extending the repayment period may increase the overall cost. Compare the new total amount repayable with the remaining cost of your current agreements.
Information usually required
- Current balances and monthly payments
- Interest rates and remaining terms
- Income, expenses, and household circumstances
Consolidation is not suitable for everyone and is subject to a full affordability assessment.