Debt Consolidation Loans
Juggling a bunch of payments and existing debt? Combine everything into one easy-to-manage payment by consolidating your debt with a Fair Go Finance Personal Loan. Get personalised pricing with a rate tailored to you, all from a lender that genuinely wants you to get ahead.
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Calculate your repayments
What this means...
- Interest Rate p.a.
- 29.90%
- Comparison Rate p.a.
- 41.64%
- Total Repayment
- $4,212.51
Minimum weekly repayment*
$81.01
Ready to get started? Get your personalised rate and repayments without impacting your credit score or see our rates & fees
*Includes an interest rate of 29.90% (Comparison Rate of 41.64%). All prices are indicative and applications are subject to assessment. Fees and charges are payable. The Comparison Rate is based on an unsecured personal loan of $2,500 for a term of 2 years. WARNING: The comparison rate is true only for the example loan amount and term selected and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
The easy way to consolidate your debt
A debt consolidation loan with Fair Go Finance is your go-to for managing debt. Understanding the loan terms is crucial, as they can range from 2 to 7 years and impact your overall repayment strategy. Get one simple loan tailored to your situation and a stress-free pre-approval that gives you all the information upfront. It doesn’t matter if it’s bank or credit card debt, we can help you with almost any kind of personal debt consolidation loan. An unsecured personal loan offers flexibility in terms of loan amounts and repayment durations, making it a versatile option for many borrowers.
What kind of debts do people consolidate?
Credit card debt consolidation
Bill consolidation
Small debt consolidation
Knowing if a debt consolidation loan is right for you depends on many factors. But if you want an easy way to manage your finances it is well worth exploring.
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Rates Fees and Features
When considering a debt consolidation loan, it’s essential to understand the rates, fees, and features associated with the loan. Here are some key things to look out for:
Interest Rate: This is the rate at which you’ll be charged interest on your loan. Look for a loan with a competitive interest rate that can help you save money on interest payments.
Fees: Check if there are any fees associated with the loan, such as establishment fees, monthly fees, or early repayment fees. Being aware of these fees upfront can help you avoid any surprises later on.
Loan Term: This is the length of time you have to repay the loan. Make sure you choose a loan term that works for you and your financial situation. A longer loan term may result in lower monthly repayments, but you might end up paying more in interest over time.
Monthly Repayment: This is the amount you’ll need to pay each month to repay the loan. Ensure that you can afford the monthly repayment amount without straining your budget.
Credit Card Balance Transfer: If you’re consolidating credit card debt, check if the loan allows for credit card balance transfers. This feature can help you manage your credit card debt more effectively.
Consolidating Debts: Check if the loan allows you to consolidate multiple debts into one loan. This can simplify your finances by combining all your debts into a single, manageable payment.
Consolidating your current loan into one manageable payment is simple and transparent with Fair Go Finance. Read through our rates and fees to find a loan that best suits you.
Rates (APR), fees & features
Small Amount Loans
Read More: Small Amount LoansMedium Amount Loans
Read More: Medium Amount LoansLarge Amount Loans
Read More: Large Amount LoansFor our loans of $500 to $2,000 an APR (Annual Percentage Rate) does not apply. For loans above $2,000 maximum APR is 48%. *All prices are indicative for an unsecured personal loan and fees and charges are payable. WARNING: The comparison rate is true only for the example loan amount and term selected and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
1. Comparison Rate is based on an unsecured personal loan of $1,000 over a term of 6 months. Fees and charges are payable.
2. Comparison Rate is based on an unsecured personal loan of $2,500 over a term of 24 months. Fees and charges are payable.
3. Comparison Rate is based on an unsecured personal loan of $10,000 over a term of 24 months. Fees and charges are payable.
Consolidate your debt with a personal loan
Make life easier to manage with one simple debt consolidation loan. We can tailor a loan to suit your credit score and situation, combining all your current debts into one.
As one of Australia’s largest non-bank personal loan providers, we take our responsibility to you seriously. Our friendly team will take great care in working with you to help you path forward. And if you have a bad credit score and you want to consolidate and pay off your debts, we’ll do everything we can to help you turn your bad credit history around.
How to apply
Take control of your debts
We can do a quick check to determine if you’ll qualify, with no harm to your credit rating. Then, apply in as little as six minutes and access your funds 15 minutes from approval.
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Understanding Your Debt
Understanding your debt is the first step towards taking control of your finances and making informed decisions about debt consolidation. To get a clear picture of your debt, start by gathering information about all your existing debts, including:
Credit card balances
Personal loans
Overdrafts
Other debts
Make a list of each debt, including the balance, interest rate, and minimum monthly repayment. This will help you identify areas where you can make adjustments to reduce your debt burden.
It’s also essential to understand the different types of debt you have, such as:
Secured debts: These are debts that are tied to an asset, such as a mortgage or car loan.
Unsecured debts: These are debts that are not tied to an asset, such as credit card balances or personal loans.
By understanding the types of debt you have and the interest rates associated with each, you can make informed decisions about which debts to prioritize and how to consolidate them.
Choosing the Right Debt Consolidation Option
Choosing the right debt consolidation option can be overwhelming, but it’s essential to find a solution that works for you. Here are some factors to consider when selecting a debt consolidation option:
Interest rates: Look for a debt consolidation option with a lower interest rate than your existing debts.
Fees: Check for any fees associated with the debt consolidation option, such as establishment fees or early repayment fees.
Loan term: Consider the loan term and whether it aligns with your financial goals.
Credit providers: Research the credit provider and their reputation in the market.
Some popular debt consolidation options include:
Personal loans: These are loans that can be used to consolidate multiple debts into one loan with a lower interest rate.
Balance transfer credit cards: These are credit cards that offer a 0% interest rate for a promotional period, allowing you to transfer your existing credit card balances and save on interest.
Debt consolidation loans: These are loans specifically designed for debt consolidation, often with lower interest rates and fees.
By considering these factors and options, you can find a debt consolidation solution that helps you achieve your financial goals.
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Reasons for Considering Debt Consolidation
There are several reasons why you may want to consider debt consolidation:
Simplify Finances: If you have multiple debts with high interest rates, consolidating them into one loan can simplify your finances. Instead of keeping track of several payments, you only need to manage one.
Reduce Monthly Repayments: If you’re struggling to make repayments on multiple debts, consolidating them can reduce your monthly repayment amount. This can make it easier to manage your budget and avoid late fees.
Save on Interest Payments: By consolidating your debts into one loan with a lower interest rate, you can save money on interest payments. This can help you pay off your debt faster and reduce the total amount you owe.
Improve Credit History: Paying off your debts and reducing your credit utilisation ratio can improve your credit history. A better credit score can make it easier to obtain credit in the future and may qualify you for better interest rates.
Considering these benefits, debt consolidation can be a smart financial move for many people.
Managing Your Consolidated Debt
Once you’ve consolidated your debts into one loan, it’s essential to manage your debt effectively to avoid falling into debt again. Here are some tips:
Make Timely Repayments: Make sure you make your monthly repayments on time to avoid late fees and interest charges. Setting up automatic payments can help ensure you never miss a payment.
Monitor Your Credit Report: Check your credit report regularly to ensure it’s accurate and up-to-date. Monitoring your credit report can help you catch any errors and track your progress in improving your credit score.
Avoid New Debt: Avoid taking on new debt, such as credit cards or personal loans, while you’re repaying your consolidated debt. Focus on paying off your existing debt before considering new credit.
Create a Budget: Create a budget that works for you and your financial situation to ensure you can afford your monthly repayments. A budget can help you manage your expenses and avoid overspending.
By following these tips, you can manage your consolidated debt successfully and work towards achieving your financial goals.
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Common Debt Consolidation Mistakes to Avoid
Debt consolidation can be an effective way to manage your debt, but it’s essential to avoid common mistakes that can lead to further financial stress. Here are some common debt consolidation mistakes to avoid:
Not understanding the terms and conditions: Make sure you read and understand the terms and conditions of your debt consolidation option, including any fees and interest rates.
Not considering all your debts: Make sure you include all your debts in your debt consolidation plan, including credit card balances, personal loans, and other debts.
Not creating a budget: Create a budget that takes into account your debt consolidation payments and ensures you’re not accumulating new debt.
Not monitoring your credit report: Monitor your credit report to ensure that your debt consolidation is reflected accurately and that there are no errors.
By avoiding these common mistakes, you can ensure that your debt consolidation plan is effective and helps you achieve your financial goals.
We're with you
So why Fair Go Finance?
We want what’s best for our customers. And we show it every day with loans and service tailored to you.
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Genuine customer service
Our genuine, down-to-earth team is here for friendly, helpful advice – and zero jargon.
Personalised pricing
We get to know your situation to craft a tailored rate just for you.
Credit score boost
Make timely repayments on an initial easy-to-manage loan to actively boost your credit score.
Check if you qualify
Learn how likely you are to get approved, with no impact on your credit file.
Interested in learning more?
Read on for commonly asked questions about our debt consolidation loans
Debt consolidation is the process of combining multiple debts into one loan with a single interest rate, monthly repayment, and due date. This simplifies your finances and can help you manage your debt more efficiently. By using a personal loan to consolidate your debts, you can roll multiple debts into one easy-to-manage loan. The goal of debt consolidation is to pay less in fees and charges and get a lower overall interest rate, making it easier to stay on top of your financial obligations.
How much you are eligible to apply for will depend on your current financial circumstances and requirements. As a Responsible Lender we want to make sure your loan is affordable for you, so we will always need to complete your assessment first before we can provide you with the loan amount you’re eligible for. Loans for bad credit are available to cater to diverse financial situations and urgent needs.
Our loans are based on your individual and current financial circumstances. Until we receive your application and your bank statement information, it is not possible for us to guarantee you will be approved.
Our loan repayments vary depending on the loan amount, the loan term and the interest rate. You can use our loan calculator as a guide, however because we tailor our rates to your unique credit profile, we will not be able to confirm any repayments until your assessment is complete.
The interest rates for our loans are calculated using risk-based pricing, which simply means the better your credit rating, the better the interest rate you can be eligible for. We won’t be able to confirm what interest rate you may be eligible for until your assessment is complete, however you can see the range of our interest rates for our personal loans here.
The usual waiting time to receive your loan application outcome is between 24-48 working hours.
Whilst we can’t talk to a specific loan being good or bad, debt consolidation is often a good idea. Paying off multiple debts with one single loan leaves you with one single repayment to worry about. Often, having a single loan repayment is much easier to budget for than multiple debt repayments that come out of your account at varying times.
It depends on a number of factors, but we help lots of customers who have a bad credit history get the loans they need and get their bad credit history back on track.
Contact our friendly team on 1300 324 746 and we’ll explain if your bad credit rating will prevent you taking out a debt consolidation loan (or limit the amount you can borrow).
If you’re not sure if you have a bad credit rating, watch our video about how to find out your credit score. You can request a free copy of your credit report from Equifax and find out if and why you have a bad credit history. Once you know, it’s easier for us to advise you.
Nearly all types of credit you get are listed on your credit report and therefore can impact your credit score. Applying for multiple loans at once will affect your ability to borrow, so make sure you do your research before submitting a loan application.
Apply online in less than 6 minutes. Our clever online application form is quick and easy to complete – apply from anywhere in Australia, anytime day or night.
A little human touch may come into play. If your application isn’t given an immediate outcome, a friendly credit consultant will be in touch to confirm what they need clarified, or if there’s a different amount or product they can offer you.
Get approved: If you’re offered a loan and you’d like to proceed, simply accept by electronically signing in the contract using an SMS code sent to your mobile phone.
Receive your funds within minutes: We use Real-Time Funding to instantly transfer the funds to your account.
and see for yourself. And remember, if you run into any problems with our online application or have any questions about the approval process for our personal loans, we’re here to help. Call our team on 1300 324 746 or contact us online via live chat.
Our debt consolidation loans are quick, easy online loans that enable you to bring all your outstanding debts together into one easy-to-manage loan, with the aim of minimising your repayments and borrowing costs.
You can use a debt consolidation loan to combine a range of debts and loans, including:
Store loans or card debt
School fee debt
Credit card debt
Outstanding bills and accounts
Debt consolidation loans can be particularly helpful if you’re struggling with debt and a bad credit rating. In fact, a debt consolidation loan could help you repair your bad credit score. Contact our friendly team on 1300 324 746 or via live chat to find out more about our bad credit loans.
At Fair Go, we personalise the rates and terms of our online loans to maximise your borrowing power and minimise your borrowing costs. That’s why we’re here – to help you get the cash you need to get on with life today, without putting your long-term financial wellbeing at risk.
Our friendly team, based here in Australia, will work with you to establish how much you can afford to borrow and how to structure a debt consolidation loan to keep your repayments manageable and your borrowing costs as low as possible.
The idea is that we reduce your monthly repayments and improve your cash flow by rolling all your debts into one. This makes managing your day-to-day budget simpler and, by making your debt easier to pay off, it can even help you repair your credit history if you have a bad credit rating.
Talk to our team today on 1300 324 746 or via live chat, or apply online for your debt consolidation loan. It’s quick, secure and easy.
Depending on your financial situation, you can borrow from $500 up to $10,000 over the course of anything from three months to three years with a debt consolidation loan. And we’ve used all our finance and tech know-how to ensure applying for a debt consolidation loan is quick and easy.
All our debt consolidation loans have fixed interest rates, which means you know upfront what your repayments will be. It’s all part of our responsible lending commitment – your guarantee that we’ll always be upfront and transparent with you. No hidden fees. No nasty surprises.
With set repayments in place, managing your budget and planning for the future is much easier. And that’s what it’s all about for us – helping you get the cash you need to get on with life, without putting yourself or your budget under unnecessary stress.