What we’ll consider
- Interest rates, fees and the full repayment term
- The total amount payable—not only the regular repayment
- Whether unsecured debt would become secured
- Your ability to close or reduce old credit facilities
Finance Made SimplerRequest a ConsultationDebt Consolidation · A clearer view of your repayments
Several repayments. One clearer conversation.
When different balances, rates and due dates become hard to keep track of, a clear overview is a useful first step. Let’s see whether consolidation is suitable for your situation.
Talk to Paul Thomas
What would a more manageable repayment plan look like?
Bring the credit cards, personal loans and other commitments into one picture. We’ll look at the balances, fees, interest rates and repayment terms before discussing whether combining eligible debts could help.
Simpler repayments can be useful, but a lower monthly amount does not necessarily mean a cheaper loan. Stretching short-term debt over a longer term may increase the total cost. Securing debt against your home also changes the risk.
A useful plan considers what happens after consolidation: the repayment timeframe, how old facilities will be managed, and how to avoid building new balances. If repayments are already unaffordable, it is important to explore hardship support as well as borrowing options.
This may help if you are looking to:
- Simplifying several repayment dates
- Reviewing high-interest debts
- Understanding whether consolidation could improve cash flow
- Comparing the total cost before and after consolidation
- Creating a clear plan to avoid building new debt
What to prepare
- Current statements for every debt
- Interest rates, limits and minimum repayments
- Your recent income and living expenses
- Home loan and property details, if relevant
What happens next
We discuss your goals, review the information available, compare suitable options and explain the next steps before you decide whether to proceed.
A few questions you might be asking
Can all my debts be combined?
Not necessarily. The type of debt, lender criteria, security and your ability to repay affect what may be suitable. A review comes before an application.
Is consolidation the same as reducing my debt?
No. It changes how debt is financed; it does not make the balance disappear. Fees and interest can add to the amount you repay.
What if I am struggling to make repayments?
Contact your lenders about hardship options. Free, confidential financial counselling is also available through the National Debt Helpline on 1800 007 007. Taking on another loan may not be the right next step.
Ready to explore your options?