Roll multiple debts into one simple repayment.
One rate, one repayment, one date to remember.
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What Aussies use a debt consolidation loan for.
- Combining 2+ credit cards
- Paying out Afterpay, Zip, Klarna balances
- Rolling personal loans into one
- Escaping revolving high-interest debt
Why borrowers pick this loan.
One fixed monthly repayment instead of juggling many
Potentially lower rate than 20%+ credit card interest
Clear payoff date — no revolving balance trap
Improve your credit utilisation once cards are paid down
Am I eligible?
You'll typically need to meet these criteria — final approval is at the lender's discretion.
- 18+ Australian citizen or permanent resident
- Stable income of $25,000+ per year
- Existing debts you can list on application
- No current default or bankruptcy
What might it cost?
Debt Consolidation loan questions.
Does the lender pay my old debts directly?+
Harmoney can pay your existing creditors directly on settlement, so you don't have to manage the payouts. You'll confirm the accounts during application.
Will consolidating hurt my credit score?+
Short-term there may be a small dip from the new enquiry, but reducing credit card utilisation and making consistent repayments generally helps your score over time.