Get a debt consolidation loan and take control of your finances
A debt consolidation loan can help you combine multiple loans or debts into one easy repayment scheme. We help you gain access to your finances fast with:
- One manageable repayment plan
- The same low-interest rate for all loans
- Stress-free affordable repayment timeframes
Take control today
Getting a debt consolidation loan is the perfect way to take control of your finances, allowing you to roll multiple other loans or debts into one easy to manage repayment scheme. Rather than being overwhelmed by separate monthly or weekly payments, debt consolidation lets you combine all of them while extending the overall timeframe of your repayments, keeping them affordable, and placing them all under the same interest rate.
Here at MoneyShop, we aim to approve your application and get you access to your finances as fast as possible. Thanks to our online debt consolidation application process, you can apply any time, any day. We know you’re busy, so we get back to you as soon as we can.
Why choose MoneyShop for your Debt Consolidation Loan
Here at MoneyShop, we aim to approve your application and get you access to your finances as fast as possible. Thanks to our online debt consolidation application process, you can apply any time, any day.
Apply online
Complete our simple online loan application form. It only takes a couple of minutes *
Competitive rates
Get an affordable loan with a term repayment schedule that suits you.
Get paid
Once your application is accepted, the money is deposited in your bank account! It couldn’t be easier.
* Loan applications are subject to responsible lending checks
How do our Debt Consolidation Loans work?
A debt consolidation loan essentially adds up all your existing loans, pays all of them off completely, and then creates a single, new loan for the amount used to clear the previous debts.
But how does combining several debts lead to smaller repayments and better interest rates?
- One fixed interest rate instead of multiple interest rates.
- One repayment to keep track of reduces your chance of incurring extra costs for missed/late payments.
- Debt consolidation has proven a valuable tool for those looking to get out of debt, too. You are able to focus on paying off costs without being swamped by the details.
- Ultimately, it’s important to remember that it is the same amount of debt, just combined, and so it isn’t necessarily a solution for totally cancelling debt. On the other hand, even though it might seem like a lot, it’s the same amount of debt as before, just with less to manage. In most cases it can work out cheaper in the long run, as you’re likely to pay less in fees, and enjoy a fixed interest rate.
Manage your debt today
Ready to take on an easy debt consolidation loan with MoneyShop? Get in touch with our team today to see what options we have for you or apply online!
Debt Consolidation Loan FAQ
Any more questions?
Our friendly team are here to help you throughout the entire lending process. Call us on 0800 66 66 39 or get in contact with us here
What Is a debt consolidation loan?
A debt consolidation loan can help you combine multiple loans or debts into one easy repayment scheme — with one manageable repayment plan, the same low-interest rate for all loans, and stress-free affordable repayment timeframes.
How do I get a debt consolidation loan?
Complete our simple online loan application form. It only takes a couple of minutes! Here at MoneyShop, we aim to approve your application and get you access to your finances as fast as possible. Thanks to our online debt consolidation application process, you can apply any time, any day. We know you’re busy, so we’ll get back to you as soon as we can.
Does a debt consolidation loan affect your credit?
A debt consolidation loan can appear as a new line of credit in your report, which can be viewed as negative, but the positive effects of paying off two, three, or more of your debts far outweighs any negatives.
Can I get a debt consolidation loan with bad credit?
It depends – give us a call and we can do a credit check to see if we can help.
Is a debt consolidation loan right for me?
A debt consolidation loan can be a great way to get all of your debt into one manageable place. Things can be easier with a single repayment each month, but it is important to make sure you can realistically afford the new repayment amount. Please check out our handy personal loan calculator to make sure you can afford to repay your loan.
Why should I get my debt consolidation loan from MoneyShop?
Here at MoneyShop, we are all about providing our customers with quick and easy solutions. It only takes minutes to apply for a debt consolidation loan online and your application will be in the hands of our staff ASAP.
Our costs and terms
Loan amount
Borrow between $200 and $20,000, depending on your situation. Example: $3,000 over 78 weeks = $58.87/week.
Loan terms
Choose a term from 3 months to 3 years. Repay weekly. We’ll show your full schedule upfront.
Interest rate
The interest rates are 29.95% for loans with security or refinanced from existing loans, new unsecured loans are also 29.95%. The rate is fixed for the whole of the contract. Interest charges are calculated by multiplying the unpaid balance at the end of the day by a daily interest rate. The daily interest rate is calculated by dividing the annual interest rate by 365. Interest is charged when instalments fall due.
Default interest rate
MoneyShop doesn’t charge default interest. If your account falls behind, a $1 daily arrears fee may apply until things are back on track. Reversed payments incur a $5 fee, and missed‑payment contact may involve a letter fee (up to $50), a $5 phone fee, or an $80 + GST home‑visit fee. Any third‑party recovery costs are passed on at cost.
Establishment fees
One-time setup fee based on loan size:
| Fee | Cost |
|---|---|
| $200 to $499 | $65.00 |
| $500 to $800 | $160.00 |
| $800 to $5,000 for three years or less | $300.00 |
| $800 to $5,000 for three years or less | $300.00 |
| $5,000 to $15,000 for three years or less | $310.00 |
| Over $15,000 for more than three years | $455.00 |
Some loan setup costs come from third parties — such as credit checks, PPSR searches, and security‑registration fees — and these are passed on at cost. Your account also has a daily administration charge of 55c while it’s open. We send statements every six months, and extra statements are free by email or $5 if printed. If you repay your loan early, an administration fee of $50 (averaged) may apply, along with any third‑party deregistration costs.
Rate type
Your rate stays the same for the whole loan. No surprises. No hidden fees.
Repayment frequency
Pay weekly. Example: $1,500 over 52 weeks = $44.83/week.
Example: Borrowing $3,000 over 78 weeks
- Weekly repayment: $58.87
- Total repayments: $4,592.86
- Includes: Interest, $300 establishment fee, $0.55/day admin fee
- Does not include: Any optional or default-related fees
This example assumes a fixed interest rate of 29.95% p.a., no missed payments, and no early repayment. Actual costs may vary depending on your loan amount, term, and repayment history.
Want to check your rate with our personal loan calculator?
Learn more about loan costs, interest rates, and fees on our Cost of Borrowing page.
