Personal Finance
Debt consolidation
with honest advice.
Multiple repayments, multiple rates — it can get complicated. Consolidating into a single loan can simplify things and potentially reduce your total interest cost. We'll tell you honestly whether it makes sense in your case.
When consolidation actually helps
Debt consolidation isn't always the right move — but when it is, it can genuinely simplify your financial life and reduce what you're paying overall. We look at your existing debts, their rates, and what a consolidation loan would actually cost you — including total interest over the full term.
We'll only recommend consolidation if the numbers genuinely work in your favour. Extending your debt term at a lower rate might reduce monthly repayments while increasing total interest paid — we'll make sure you see the full picture before deciding.
Simplify multiple repayments
Replace multiple loan repayments with one — easier to manage and track.
Potentially lower interest
If you're paying high rates on multiple products, a single secured loan may cost less.
Full cost transparency
We show you total interest cost — not just monthly repayment — so you can compare properly.
Honest assessment first
We won't recommend consolidation if the numbers don't genuinely benefit you.
Who this suits
- Anyone managing multiple personal loans, car loans or credit card debts
- People paying high interest rates on existing products who want to compare options
- Those who want to simplify their financial commitments into a single repayment
- PAYG employees or self-employed individuals with stable income and a genuine plan to reduce debt
Debt Consolidation FAQS
Got questions? We've got answers.
Plain English. No jargon. Just the stuff people actually ask us.
What is debt consolidation?
Debt consolidation means combining multiple debts into one new loan. This may include credit cards, personal loans, store cards, buy now pay later balances or other eligible debts. The goal is usually to simplify repayments, reduce stress and potentially lower interest costs. We'll help you compare the numbers carefully so the new loan actually helps.
What debts can I consolidate?
Depending on the lender, you may be able to consolidate credit cards, personal loans, car loans, store finance, buy now pay later accounts or other unsecured debts. Some business debts may need a business refinance instead. We'll help sort the debts into the right category and choose a structure that makes sense.
Will debt consolidation save me money?
It can, but not always. Savings depend on the new interest rate, fees, loan term and whether you avoid building the old debts back up again. We'll compare your current repayments and total costs against the new option, so you can see whether consolidation is a positive move.
Can I consolidate debt if I have bad credit?
Possibly. Some lenders may still consider debt consolidation if your current income supports the repayments and there is a clear plan. Your recent repayment history, defaults, credit score and overall financial position will matter. We'll take a respectful, practical approach and help you understand what options may be available.
Will I only have one repayment after consolidating?
That's usually the idea. Debt consolidation can replace several repayment dates, rates and lenders with one regular repayment. This can make budgeting much easier. We'll also encourage you to close or reduce unused credit limits where appropriate, so the consolidation gives you a fresh start rather than extra temptation.
What should I avoid after consolidating debt?
The biggest thing to avoid is clearing old credit cards or loans and then using them again. That can leave you with the new consolidation loan plus fresh debt on top. We'll help you look at the structure, repayment amount and habits needed to make the consolidation work in real life.