Debt Consolidation

You've come to the right place for expert advice and information about debt consolidation so that you can make informed decisions.


Debt consolidation merges multiple debts into a single, cheaper loan while our caring team does the hard work to make sure that you stay on track to be debt-free sooner.

A debt consolidation loan can lower your total repayments by combining multiple debts into a single loan - a single interest rate and one ongoing repayment

A debt consolidation loan can assist with managing debt as a lower interest, single repayment may mean you pay less each month than you were previously.

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Your Options

There's more than one way to get out of debt

Debt Consolidation Loan
May lower your total repayments by combining multiple debts into a single loan.
Refinancing your home loan may allow you to pay out your credit card and personal loans under your mortgage. Instead of paying off multiple debts, you pay off all of your debts with one home loan repayment each month.
Pay Your Way Out of Debt
It may be possible to pay your way out of debt using your existing income and without compromising your credit rating or needing new loans.

A debt consolidation loan generally allows for consolidation of unsecured personal loans, car loans, credit cards etc.

Debt consolidation loans we offer can lower your overall cost of repayments by combining your high interest rate loans (credit cards, car loans etc.) into one loan that has a lower repayment. We look for a loan that will improve your cash flow and streamline your payments without compromising your long-term financial outlook.

MyBudget work with you to thoroughly with you to examine which debt consolidation loan and debt management strategy is best for you.

Part 9 Debt Agreements are different to debt consolidation.

A Part 9 Debt Agreement is a legally binding contract that represents a compromise between you and your creditors. It is not a form of debt consolidation. There are strict rules about who qualifies and it only covers unsecured debts, such as credit cards, telephone bills and utilities. The agreement must include any and all creditors to which you owe unsecured debts—there are no exceptions.

On the upside, a Part 9 Debt Agreement could freeze the interest being charged to you and provide a set repayment figure for a set period of time, usually up to five years. It would also protect you from legal action from your creditors during that period.

On the downside, the consequences are significant and far-reaching. A formal debt agreement would appear on your credit file, affecting your access to credit for up to five years and resulting in your name appearing on the National Personal Insolvency Index forever. In fact, the consequences of a formal debt agreement are not dissimilar to personal bankruptcy. That’s why we recommend you explore your other options.

It’s hard to say without thoroughly examining your financial position. If a debt consolidation loan is right for you, we will be able to assess your eligibility and arrange a quick and easy loan settlement.

During a free consultation, we take into account all of your bills, loans, expenses and current debt—even money you might owe to friends or family members – and examine your options.

We deal with complex situations every day and will take the time to sit down and review your situation. It’s a valuable opportunity for you to ask questions in a setting that’s professional, relaxed and confidential. We design only personalised debt solutions that are tailor-made to get you back on track towards achieving your goals and paying off debt.

See how we have helped others with their debt

We'll help you to explore your options so that you can make an informed decision about debt consolidation.

Sam, MyBudget client

"I had looked at a few different options to consolidate my debt and get it paid off more quickly... Joining MyBudget was the best financial choice I’ve made in my life."

Sam, MyBudget client

Alan, MyBudget client

"We had gone searching for solutions to our problem, and it seemed at that point the only solutions that were available to us were perhaps some sort of debt consolidation... MyBudget has taken our financial wellbeing into their hands and we now can see that we have actual savings that we can work with."

Alan, MyBudget client

Rebecca & Andy, MyBudget clients

"We were really racking up our credit cards just to pay for the therapy we needed for our child.... I thought we were in too much debt, there’s no way we’re going to get out of it... It [joining MyBudget] was the best decision we ever made... We can see the light at the end of the tunnel now..."

Rebecca & Andy, MyBudget clients

Find out more about MyBudget. Speak to us today.

We can answer your questions and show you how easy it is to get started.

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