Debt Consolidation
Bring eligible debts into one structure and one repayment, where it suits your position.
Consolidation can simplify a set of separate commitments into a single facility with one repayment date. Where it improves monthly cash flow, that can be genuinely useful.
It is not automatically cheaper. A lower monthly repayment often comes from stretching a short-term debt over a longer term, which can increase the total interest paid even at a lower rate. We compare the repayment, the term, the fees and the total cost side by side, so the decision is made on the full picture rather than the monthly number alone.
What this typically includes
Multiple debts into one facility
A single repayment schedule
Secured or unsecured options
Term and total-interest trade-off shown upfront
FAQ
Debt Consolidation questions
How does debt consolidation work, and will it save money?
Debt consolidation can combine eligible debts into one facility and one repayment. It may improve monthly cash flow, but extending shorter-term debts over a longer term can increase the total interest paid. We compare the repayment, term, fees and total cost so you can weigh the trade-off.
Which debts can be consolidated?
Commonly credit cards, personal loans, car loans and some buy-now-pay-later balances. Eligibility depends on the lender and on the security available. We confirm what can be included before structuring the application.
Can I consolidate if my credit is already impaired?
Sometimes — consolidation is often most useful precisely when repayments have become hard to manage. Specialist lenders assess these on your current position rather than the file alone. Where it is not achievable we will tell you plainly instead of lodging applications that add enquiries.
Will consolidating hurt my credit score?
Closing several accounts and opening one new facility does change your credit file, and the new application involves an enquiry. Over time a single well-managed repayment can help. The bigger risk is running the old cards back up afterwards.
Do I have to close the accounts being paid out?
Most lenders require it as a condition of approval, and where they do not, we generally recommend it anyway. Consolidation only works if the debt does not quietly rebuild behind you.
Can I consolidate debts into my home loan?
Sometimes, where there is enough equity. It usually produces the lowest rate, but it moves unsecured debt onto your home and can stretch a short-term debt across 25 or 30 years. We show the total interest cost of that before you decide.
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