Compare debt consolidation options
Should I consolidate my debts and how do I start?
Debt consolidation combines debts into one payment. It can simplify repayment, but a longer term or higher rate can make the total cost worse. Compare the whole repayment plan before replacing existing debts.
Where to begin
- List each balance, interest rate, minimum payment and fee.
- Build a budget and check your credit reports.
- Compare offered rates, repayment terms, fees and which debts qualify.
- Check the cost after any promotional rate ends and whether collateral is required.
- Plan how to repay the balance without building up the old debts again.
Before you open the official service
- A private debt list and budget.
- Written offers and repayment schedules.
Keep your actual documents and account details off this website. Use the official service’s current checklist before applying.
What to check for your situation
A lower monthly payment does not prove savings. Consolidation is not debt forgiveness or guaranteed approval.
Fees, processing times and document rules can change. This page helps you navigate; it does not confirm eligibility or replace the government’s instructions.
Official sources
Prepared by Active K Digital from the linked public guidance. Read our source approach.