Aspect Learning Guide
Debt consolidation
Debt consolidation combines multiple debts into one loan. It may improve cash flow but can cost more over a longer term.
Debt consolidation explained in plain English
Debt consolidation combines multiple debts into one loan. It may improve cash flow but can cost more over a longer term.
How it works
Credit cards, personal loans or car loans may be rolled into one facility.
Benefit
It may improve monthly cash flow.
Risk
Short-term debts over a longer term can cost more overall.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.