Debt Consolidation
We help lower your expenses
Smarter Consolidating of Payments
A loan that allows the person to pay off all of their existing debts is called a debt consolidation loan. This type of loan lets you focus on paying a single monthly payment compared to doing it for several debts. In most cases, a debt consolidation loan provides a lower interest rate together with extended terms than other forms of payment.
A debt consolidation loan is often chosen by people who wish to simplify their financial obligations or are looking to save on cost from interest payments.
We look at your specific needs and objectives. For instance you might want one loan repayment which is lower than your combined payments. This may be more important than any other factor.
Transparent and affordable repayment terms
Cheaper than multi-loan agreements
Results in an increase in monthly cash flow on long term loans
Fixed monthly repayments over the lifespan of the agreement
How Debt Consolidation Works
After being approved for a debt consolidation loan, the lender may pay off the borrowers existing debt.
Some lenders will pay the money directly into the outstanding account. Rather than having to take on multiple payments, users can instead focus on settling just one loan payment. Basically, you will be taking all of your multiple loans, roll them into a single debt which you then pay off every month or so.
A debt consolidation loan is the best when users have a credit score which allows them to qualify for lower interest rates compared to what they are paying currently. The higher the credit score of the borrower, the better this type of loan will work for them.
Is Debt Consolidation Right For You?
Debt consolidation loans can be the right choice for people who pay for many debts each month. The easiest way to manage and in some cases save money is to combine your repayments into a single loan plan structured around your needs.
Dangers with Consolidation Loans
Debt consolidation is intended to be more affordable than having credit agreements, so if it works out not to be cheaper, the loan should not be considered. This would defeat the purpose of acquiring a debt consolidation loan as it is intended to give you debt relief.
Free Services
Ask your broker about all the free services we offer such as a free car finder.
Loan Calculator
Our Loan Calculator can provide estimations on your repayments.
Specialist Team
We have a dedicated team of specialists for your assistance.
We’ve built a secure and personalised experience
Consolidate Your Debt Today
Having debt spiral out of control is real and many people take out more loans to resolve debts. This creates an endless cycle which is what we want to help try and stop. We can help you find a solution to fit your needs with our single repayment plan, addressing your high-interest and multiple repayments.
By including loan protection, we can also help protect you against unexpected circumstances.
Call us on 1800 100 100 or apply online and we’ll help find the right solution for you.
Frequently Asked Questions
How old must I be to apply for a loan?
You must be at least 18 years old to apply for a loan.
Can I get pre-approval on a loan application?
Yes, if you receive pre-approval on your loan it is valid for 30 days.
Do I need to have a deposit ready when I'm applying?
Often no. A deposit may be required depending on previous credit history or the value of the goods being financed.
What is a credit rating?
Banks and other financiers will use a credit score to help determine whether they will lend you money. Your credit score is partly determined by your stability (how long you have been at your address and employment). Defaults, court writs and summons also have a negative impact on your rating. The number of enquiries you make will also impact your credit score. The more enquiries over 12 month period can lower your score.
Consolidate Your Debt Today with Loans 123
We have a large range of loans available ,so we have the luxury of making sure you get the loan that suits your situation, how much you want to borrow, or what type of loan you want. Start crafting your loan online today, no appointments needed.
We offer competitive interest rates.
Loans 123 - Australian Credit Licence 512846
ABN 51 626143333
2 Cargill St, Victoria Park WA 6100
All applications are subject to credit approval criteria. Fees, charges, terms and conditions apply.