1. You are tracking more than three repayment dates
Administrative load causes missed payments as often as affordability does. One date is materially easier to manage than five.
2. Your combined rate is higher than a single loan would be
Add up what you are paying across everything. If a single facility comes in lower, consolidation saves real money rather than just reshuffling it.
3. Your income is stable
Consolidation replaces several commitments with one firm commitment. That is an advantage when income is predictable and a risk when it is not.
4. You have stopped adding new debt
Consolidating while still borrowing elsewhere clears the balances and then refills them. The habit has to change first, or the position gets worse.
5. You understand the total cost
A lower monthly payment over a longer term can cost more overall. Check the total repayable, not just the monthly figure, before deciding.
Compare products and see your repayment before you commit.
