BSB 805 050

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BSB 805 050

Consolidate my debt

Whether you’re looking to reduce the costs of borrowing, or help to manage your finances, debt consolidation might be for you.

What is debt consolidation?

Debts can be challenging, but there is a way to keep better track of your debts to get you on the right path and put your mind at ease.

These debts can include:

Debt consolidation is gathering all of your existing debts and putting them all in the one place - a new debt consolidation loan.

How debt consolidation loans work


Debt consolidation loans work by using the funds from a new loan to pay off all outstanding debts from current loans so that you only have the one loan remaining.

What are the benefits of consolidating my debt?

Should you get a debt consolidation loan? These are some of benefits to consider before you decide if placing all your debts into the one loan is the right choice for you:

  • Less paperwork - you'll receive only the one set of statements
  • Convenience of dealer with only one vendor
  • Easier to budget for the one loan repayment date per month rather than several loans on different dates
  • Have a better understanding of when your loan/s will be paid off
  • You could become debt free sooner from reducing you interest rates and repayments 

How do I consolidate?


To consolidate your existing debts means to take out a new loan, which would be your debt consolidation loan that combines all loans together. People's Choice offers a range of Personal Loans that may be the an option for your debt consolidation.

And, you don’t need to be a member to apply!

Apply for a Personal Loan to consolidate your debt today!

Apply for Personal Loan

Most popular questions...


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