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Debt consolidation loans
Combine your debts into one simpler payment
Fold multiple high-interest balances — credit cards, store cards and other loans — into a single fixed-rate loan, with one monthly payment and a clear date your debt is gone.
- Merge several balances into one payment
- Fixed rate with a defined payoff date
- Checking your rate uses a soft credit inquiry
- Many debts, one monthly bill
- Soft check to see your rate
- Bank-level data security
What you get
One loan to tidy up your debt
A consolidation loan pays off your existing balances and leaves you with a single fixed-rate loan to repay. Here's what that changes day to day.
Combine multiple balances
Clear several credit cards, store cards and loans at once, then repay a single consolidated loan in their place.
Aim for a lower APR
If your credit has improved, your new fixed rate may sit well below the double-digit APRs that cards often charge.
One fixed payment
Swap a handful of shifting minimums for the same set amount every month until the balance reaches zero.
A defined payoff date
Fixed terms tell you the exact month your debt is gone, instead of an open-ended revolving balance that lingers.
No collateral needed
Consolidation loans are usually unsecured, so you don't pledge your home, car or savings to qualify.
Room to rebuild credit
Paying cards down to zero can lower your credit utilisation, which may help your score recover over time.
Why borrow with us
Why borrowers consolidate
Potential interest savings
Moving high-rate card debt onto a lower fixed APR can reduce the total interest you pay over the life of the balance.
Simpler month to month
Stop tracking several due dates and minimums — a single payment on one date is far easier to stay on top of.
Predictable fixed rate
Your rate is locked at signing, so payments never drift the way variable credit-card rates can from month to month.
Compare offers first
See personalised rates from several lenders in one place, then pick the term that best fits your budget.
How it works
How consolidation works
Check your rate
Tell us roughly how much you owe and a little about your finances to see personalised offers, with no hit to your credit score.
Pick your offer
Compare rates, terms and the new monthly payment, then choose the loan that saves the most or suits your budget best.
Pay off your debts
Once you're approved, the funds clear your existing balances — some lenders pay your creditors directly on your behalf.
Repay one loan
From there you make a single fixed monthly payment until the consolidated balance is completely paid off.
Good to know
What affects your consolidation rate
Lenders price every offer individually. These are the details that shape the rate you're quoted.
- Credit score
- The biggest factor. Stronger scores earn the lowest APRs, which is where most of the interest savings come from.
- Amount & term
- How much you consolidate and over how long shapes both your monthly payment and the total interest you'll pay.
- Debt-to-income ratio
- Lenders weigh your existing debt against your income to gauge how comfortably you can carry the new payment.
- Income stability
- Steady, verifiable income reassures lenders and can help you qualify for a better rate and a larger amount.
- Your credit habits
- Keeping older cards open but paid off, and avoiding fresh balances, supports the profile lenders reward.
Debt Consolidation Loan, without the guesswork
Compare real, personalised offers in one place and move forward with confidence — no pressure, no surprises, and no impact to your credit just to look.
Questions
Debt Consolidation Loan FAQs
Checking your rate uses a soft inquiry that doesn't affect your score. Opening the loan adds a hard inquiry and may dip your score briefly, but paying card balances down to zero often helps it recover over time.
See what you could save
Check your personalised consolidation offers in minutes and see how one fixed payment could replace your high-interest balances — with no impact to your credit score to look.
AltFTool is not a lender. Rates, terms and approval are set by the lender based on your creditworthiness and are not guaranteed. Checking your rate uses a soft credit inquiry; formally applying may involve a hard inquiry, and a longer term can lower your payment while raising total interest.