Debt consolidation is the process of taking two or more loans and combining them into a single loan that can help you to save money by reducing the amount of interest you pay, reduce repayment periods and improve personal cash flow.

Debt consolidation also makes your life a little easier by giving you one easy-to-manage repayment. Debt consolidation loans can be used for your credit cards, personal loans, car loans and even your home loan, and provide you with greater financial freedom.