Consolidating debt: where to start

Cover image for guide.
  1. Assess Your Debt Situation
    Start by listing all debts you have, and note the outstanding amounts, repayment amounts and interest rates on each. Combine these figures to determine your overall financial liability. 
  2. Lay out your budget
    First, calculate the basics like your monthly income and expenses. From there, decide how much you can afford for your monthly repayment.
  3. Determine your credit score
    Your credit score will have a big impact on your approval, and the rate you could be approved for. Check your report for any errors, as these could hurt your score and approval odds.
  1. The interest rates and loans amounts the lender offers
  2. The loan terms and conditions 
  3. The fees and extra costs associated with that lender
  4. The lender’s reputation for customer service 

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