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Take Control of Your Debt

Debt Consolidation Loans

Juggling several debts? Combining credit cards, personal loans and other debts can leave you with one repayment and one rate. It saves money only if the new loan costs less once fees and the term are counted.

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Australian Credit Licence 509582. Fees and lender criteria apply.

What Debts Can You Consolidate?

Most unsecured debts can be rolled into one consolidation loan. Here's what we commonly help people consolidate.

Credit Cards

Credit card debt is among the most expensive. Consolidating may cost less if the new rate and fees are lower.

Personal Loans

Several personal loans can be combined into one loan with a single repayment.

Payday Loans

Payday loans are expensive. A longer loan may cost less, but only if the total cost is lower.

Store Finance

Buy now pay later and store cards often carry high fees or rates. Compare the total cost first.

Benefits of Debt Consolidation

Consolidating your debts can transform your finances. Here's how.

Consolidate debts

Lower Interest Rate

Replace multiple high-rate debts with one loan at a lower rate

Less stress

One Simple Payment

Stop juggling multiple payments, just one direct debit each month

1-7 year terms

Clear End Date

A fixed term gives the loan a set end date

Fees included

Check the Total Cost

It only saves money if the new rate and fees cost less than your current debts

How Debt Consolidation Works

We make consolidating your debts simple with our 4-step process.

1

List Your Debts

Tell us about your current debts, credit cards, loans, BNPL, etc.

2

Check my options

We compare eligible options from our panel of 50+ lenders and explain the trade-offs.

3

We Handle the Rest

Once approved, we can pay off your debts directly for simplicity.

4

One Easy Payment

One repayment each month over a fixed term.

Check Whether It Would Cost Less

A consolidation loan helps only if it costs less than your current debts once fees and the loan term are counted. Use our calculator to compare. If you are already behind on repayments, the National Debt Helpline is free on 1800 007 007.

Credit cards and store finance typically charge much higher interest than a personal loan
Payday and short-term loans can be especially expensive over time
One predictable monthly repayment, one due date, one lender to deal with
Consolidation rates across 50+ lenders, your actual rate is confirmed by a specialist
Get Your Free QuoteCalculate Savings
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Simplify

Many repayments, one loan

One lender, one due date, one balance

Compare 50+ Banks & Lenders

We compare consolidation rates from Australia's leading lenders.

Some of the lenders on our panel

  • Pepper Money
  • Latitude
  • Liberty
  • Plenti
  • Firstmac
  • Society One
  • Angle Finance
  • Finance One
  • MoneyMe
  • Alex Bank
  • Metro Finance
  • Now Finance
  • AFS
  • Forward Finance
  • Morris Finance
  • Shift
  • C1 Car Loans
50+lenders compared
Freeassessment
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Debt Consolidation FAQs

Common questions about consolidating your debts.

What is debt consolidation?

Debt consolidation involves taking out a new loan to pay off multiple existing debts, such as credit cards, personal loans, or buy now pay later accounts. You end up with one loan, one interest rate, and one monthly payment instead of juggling multiple debts.

Will debt consolidation save me money?

It can, if your new loan has a lower interest rate than your existing debts. Replacing high-interest credit card debt with a lower-rate loan can reduce the interest you pay. Consider all fees and ensure you don't extend the loan term unnecessarily.

Can I consolidate debt with bad credit?

Yes! While you may not qualify for lower rates, specialist lenders work with people who have credit issues. We can help find lenders who focus on your current situation and ability to repay rather than past credit problems.

What debts can I consolidate?

Most unsecured debts can be consolidated including credit cards, personal loans, store cards, buy now pay later (Afterpay, Zip), payday loans, and even some overdue bills. You typically can't consolidate secured debts like mortgages through a personal loan.

How much can I borrow for debt consolidation?

Consolidation loans typically range from $5,000 to $75,000 depending on your income, credit history, and total debts. We'll help you work out exactly how much you need to clear your debts completely.

Is a secured or unsecured loan better for consolidation?

Both have advantages. Secured loans (using a car as security) offer lower rates but put your asset at risk. Unsecured loans don't require collateral but have slightly higher rates. The best choice depends on your circumstances.

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