Generally, the 2 main types of debt consolidation we come across are:

Credit cards

Personal loans / Car Loans

However, we have also had customers consolidate other types of various debts/loans.

Tax Debts

Medical Bills

HELP/HECS Debts

Buy Now, Pay Later facilities

Private Loans

The main reason why most people decide to consolidate their debts is to get back to 1 simple “home loan” repayment. By consolidating all your loans in to 1, it reduces the monthly commitments/outgoings and puts more money in your back pocket each month to help pay other day to day expenses.

It’s important to consider all the costs associated with debt consolidation along with the pros and cons.