Debt Consolidation › Is debt consolidation the right move for me?

Is debt consolidation the right move for me?

It can be, if it improves your cash flow, you have the equity, and you commit to clearing the debt rather than rebuilding it. It is the wrong move if it simply stretches debt out and frees up cards to use again.

Written by Ross McFarlane, Licensed Mortgage Broker (Credit Representative 526725). About the author

Why this matters

There is no universal answer, it depends on your numbers and your habits. The maths can work strongly in your favour with discipline, or against you without it. The honest first step is to map your debts, rates, and equity, look at the total cost both ways, and be realistic about whether the old accounts will stay closed.

The key points

Right if it improves cash flow and you have equity.
Only works if you commit to clearing the debt.
Wrong if it just stretches debt and frees up cards.
Map the numbers and your habits honestly first.

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More debt consolidation questions

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Last reviewed: June 2026

General information only. This page provides general information about home loans and is not financial or credit advice, a quote, or a guarantee, and your personal circumstances have not been considered. Lending policies, interest rates, fees and eligibility vary by lender and change over time. Always confirm your own situation with a licensed mortgage broker or lender before acting. Ross McFarlane (Credit Representative 526725) is an authorised Credit Representative of Australian Associated Advisers Pty Ltd t/a Keylend, Australian Credit Licence 392169.