Add all your current debts, enter a consolidation loan offer and see the full picture — monthly saving, total interest saved and whether the numbers actually work in your favour.
Debt consolidation replaces multiple debts with a single loan — ideally at a lower rate. It makes financial sense when the new rate is lower than your blended rate AND the term isn't so long that total interest exceeds what you'd pay separately.
A lower monthly payment often comes from a longer term, not a lower rate. A 10% consolidation loan over 7 years can cost more total interest than a 22% credit card cleared in 2 years. Always check total cost, not just monthly payment.