Choosing Which Debts to Consolidate: What Matters Most?
7th July 2025
If you're considering a loan for debt consolidation, one of the first things to think about is which debts to include. You don’t always have to combine everything, and in some cases, it may work better if you don’t.
This blog helps you think through that decision step by step.
What is debt consolidation?
A consolidate debt loan is used to pay off several existing debts, like credit cards, store cards, or personal loans. Once those are paid off, you’re left with one monthly payment, to one lender. It can make things feel more straightforward and manageable.
You can read more about the basics here:
What Is Debt Consolidation? A Guide to Taking Control of Your Finances in 2025
Do I have to include all my debts?
No — and that’s the important bit.
While some lenders offer a single-loan approach, others provide more flexible options where you can choose which debts to include. If you’ve got a mix of borrowing, it could make sense to leave some debts out, especially if they’re nearly paid off, come with early repayment charges, or have a 0% interest deal still running.
This is where flexibility matters. Choosing which debts to consolidate lets you stay in control and focus on the ones that make the most sense to combine.
For example, OakbrookOne allows you to select the specific debts you want to include in your consolidation loan, based on personal preferences and priorities.
Step 1: List what you owe
To begin, make a list of all your current debts. Include the lender's name, how much you owe, and the interest rate if you know it.
It also helps to note the monthly payment amount and how long it will take to pay each off; this can be key when deciding what to consolidate.
Step 2: Ask yourself these questions
1. Which debts have higher interest?
High-interest borrowing could cost more over time. If you're paying a large amount each month in interest alone, this might be a debt to consider consolidating.
2. Which ones are hardest to manage?
Some debts may fall on awkward dates, have changing payments, or just add to the mental load. If a certain account always throws off your budget, including it might help simplify things.
3. Is anything nearly paid off?
If a balance is small and due to finish soon, you may decide not to include it in your consolidation loan. That way, you're not spreading a small amount over a longer term. Speak to free advice providers like StepChange or MoneyHelper if you’re unsure.
4. Are there early repayment charges?
Check your agreements. Some lenders charge a fee if you repay early. If that’s the case, weigh up whether it’s worth including or better to leave out.
5. Do any have 0% interest?
If a credit card or buy now, pay later plan is on a 0% deal — and that deal still applies — it might make sense to leave it out for now. But keep in mind that when promo periods end, rates can increase sharply.
Final thoughts
With loans for debt consolidation, you’re not locked into an “all or nothing” approach. The choice of which debts to include may depend on what’s important to you, whether that’s reducing high interest or making payments simpler.
Lenders, such as OakbrookOne, let you pick which debts to consolidate and will pay them off directly as part of your loan, which saves you time and keeps things simple. This can make your finances feel more under control, depending on your situation.
You can find out more at OakbrookOne.
Please remember: Debt consolidation may not be the right option for everyone. It's important to understand how it works and how it could affect your finances in the long term. If you're unsure, it's a good idea to speak to an independent debt advice provider who offers free and impartial guidance.