Debt Consolidation Loan to Simplify

No, combining your debt doesn’t hurt your credit rating. Debt consolidation loans are a common way people budget better and pay off debt. They can be used to manage repayments or reduce the total cost of borrowing, depending on your priorities. Make sure you understand the details before signing on the dotted line.

There may be additional fees to establish a new loan. We’ll give you a full breakdown of all the costs when you apply. These may be offset by lower interest over the lifetime of your loan.

Depending on the structure of your debt consolidation loan, it may take you longer to pay off some of your individual loans. The additional months of interest can leave you paying more overall than if you kept the original debts.

Your new loan may be secured or unsecured. This could be against an asset like your car. Missing payments could put those assets at risk.

These loans will consolidate your existing debt, but don’t necessarily mean a change in spending habits. Review your finances to help find long-term solutions.

We’ll work with you to see if this type of loan is right for your situation. Apply online (without hurting your credit score) to see how we can help.

We’re on a mission to make borrowing better and that means making the application process super simple. Fill in the form and our smart tech will help assess whether debt consolidation is right for you. With better finance™️ you will work with a financial adviser who will step you through the various steps of debt consolidation (for example, assessing which debts you want to consolidate and the details of each of those — rate, amount, term) and help you understand the options appropriate for your needs. Once we’ve checked everything, the funds could be with you in as little as 24 hours.

You can apply for a debt consolidation loan from better finance™️ online or in-person. You’ll need to provide financial information, such as income, expenses and the debts you want to combine, to determine your eligibility. The lender will assess your credit score and provide a personalised interest rate based on your credit assessment. Our financial advisors will be with you every step of the way to make sure you understand your options.

Interest rates vary based on your credit profile, current debts, and financial history. If you have a strong credit record, you may be eligible for a lower rate — but all applications are reviewed individually.

Debt consolidation loans can include fees like establishment or monthly account fees. When we're processing your application, we'll explain everything upfront so there are no surprises.

The amount depends on how much debt you’re consolidating and what you can realistically afford to repay. Lenders look at your income, expenses, and overall financial position to assess affordability.