Several debts
Credit cards, personal loans and car loans with different due dates.
Debt consolidation and personal loans.
Juggling credit cards, a car loan and buy now pay later? Rolling them into one loan can lower your repayments. It can also cost more over time, so we show you both sides before you decide.
Who it suits
High interest
Paying high rates on cards or personal loans.
Renovations
Funding home improvements with a personal loan or home equity.
How it works
- List your debts, balances, rates and repayments.
- We compare consolidating into your home loan, a personal loan or leaving things as they are.
- We show the monthly saving and the total cost over time for each option.
- If it makes sense, we arrange the new loan and pay out the old debts.
- We help you close or reduce the old credit cards so the debt doesn't return.
What lenders look at
- Your income and living expenses
- All your debts and credit card limits
- Your home equity, if consolidating into your home loan
- Your repayment history
Good to know
Total cost matters
Spreading short-term debt over a long home loan term can cost more interest overall. Paying extra each month avoids this.
Close the cards
Lenders count your card limits, not just balances. Closing unused cards also improves your borrowing power.
Need help now?
If you're struggling with repayments, contact your lender about hardship options or call the National Debt Helpline on 1800 007 007.
Common questions
Will consolidating hurt my credit score?
A new application appears on your credit file, but paying debts on time afterwards helps. Missing payments does more harm.
Can I consolidate if I've missed payments?
Some lenders will, depending on what happened. We'll be honest about your options.
Is a personal loan or home loan better?
A home loan usually has a lower rate but a much longer term. A personal loan costs more per month but is paid off sooner. We compare both.
Related
General information only, not credit, tax or financial advice. Every lender has its own criteria and approval is never guaranteed.
Talk to us about debt consolidation.
Free, no-obligation chat in person, by phone or by video.