Trying to service multiple debts can feel like standing behind a cooktop in a short-staffed kitchen – you’re always just one mistake from the whole thing boiling over.
Following years of the cost-of-living crisis post-COVID-19, many Australians now find themselves tied to personal debts such as car loans, credit card bills, and HECS/HELP fees as they try to pay off larger debts, like their mortgage.
At the same time, plenty of small and medium-sized enterprises (SMEs) are feeling the heat, with outgoing obligations hindering cash flows and their ability to invest.
Against this backdrop, debt consolidation is one lever borrowers can lean on to simplify finances and, in some cases, reduce repayments by securing a…