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Loans for consolidating debt
Get back on track by consolidating debt into one simple repayment with our personal loan.
Loans for consolidating debt
Loans for consolidating debt
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Start reducing repayments on your debts with a personal loan
Using a personal loan to consolidate debt can be an effective way to manage multiple debts and increase cash flow by reducing repayments.
Merge multiple smaller debts using a personal loan to simplify your finances and create one repayment schedule and interest rate. You may also be able to add a vehicle you own as security to access a lower rate, a higher lending limit, or both.1C
Consolidate multiple debts
Free up cash flow
Borrow up to $80,000
Loan terms of 3, 5 or 7 years
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Need a personal loan to consolidate debt? Get your rate today
At Liberty, we understand juggling multiple debts can be stressful. Consolidating debt with a personal loan can help make the process more manageable.
A personal loan to consolidate debt could help you gain more control of your situation with the certainty of fixed repayments. There are also no early exit fees if you decide to pay out the loan early.
Use our online personal loan rate estimate to find out what rate applies to you. Checking your rate won’t affect your credit score.
Easy to understand features, variables and fees
Features
Accepted purpose
Fees
What are the benefits of consolidating debt?
Here are three ways a Liberty personal loan could help you gain control of your finances.
Manage multiple debts
There are a range of debts that can be consolidated including: tax debt, car loans, utility bills, credit cards and payday loans.
Increase cash flow
Rolling multiple debts into one could reduce your loan repayments. You could also potentially take advantage of a personal loan’s reduced rate to put more money back in your pocket.
Simplify repayments
If you have debt from several different sources, it can be challenging to manage. One repayment schedule keeps things simple.
Our innovation and flexible solutions have helped over 850,000 free thinkers.
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Wherever you are in your journey, help is here however you need it.
Calculate your repayments
Our calculator can help you work out what your loan repayments could be.
Get your personalised rate
Get a personalised interest rate in 2 minutes with our online application. Checking your rate won't affect your credit score.
Apply online
Our streamlined application is fast and fuss free with funds delivered quickly.
Consolidating debt FAQs
Consolidating debt with a personal loan can help manage multiple smaller debts by rolling them into one easy repayment. You receive the personal loan funds into your nominated bank account, and control which debts you want to pay off. This could help you budget more effectively and reduce the risk of missing repayments. You could also take advantage of personal loan features including potentially reduced interest rates or more flexible loan terms.
You can consolidate multiple debts as long as the outcome puts you in a better financial position. Using funds from a Liberty personal loan can help you consolidate different types of debt including credit cards, car loans and tax debt.
Anyone over 18 years who is a citizen or permanent resident currently living in Australia can apply for a Liberty personal loan for consolidating debt purposes. Applicants need to be employed and earn a minimum of $20,000 per year to be eligible (the majority of your income cannot be from Government benefits).
The repayment terms for personal loans to consolidate debt can vary, with options of three, five and seven years. Shorter loan terms may come with higher monthly payments, but you could save on overall interest. While longer terms can reduce monthly payments, they may result in more interest paid over the life of the loan. Consider your financial situation and choose a term that aligns with your circumstances.
With our fast online process, you can get a personalised rate in under two minutes and easily apply online for a personal loan to consolidate debt. If you accept your personal loan offer by 3pm, we’ll send your funds the same day. If you are with a major bank, you should receive the funds in your account on the same day. Otherwise, you’ll likely receive the funds the following day. Once you receive funds, you can then pay out the debts you want to consolidate. To find your personal loan interest rate, check your tailored rate here. It takes just two minutes and is completely obligation free.
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Things you should know:
1CVehicle eligibility criteria and age restrictions apply. Vehicle must be a passenger car or light commercial vehicle under 5-tonne gross vehicle mass.
2AOther fees and charges may apply, such as dishonour and late fees.
3CFor an unsecured loan: this fee ranges from between 0% to 5.50% of the loan amount, depending on your risk bank and the fee is capped at $950. For a secured loan: this fee ranges from $310 to $1,010 depending on your risk band, and includes a fee up to $60 for vehicle search and registration (PPSR).
Approved applicants only. Lending criteria apply. Fees and charges are payable. Copyright © 2024 All rights reserved | Liberty Financial Pty Ltd ABN 55 077 248 983 | Credit provided by Secure Funding Pty Ltd ABN 25 081 982 872 | Australian Credit Licence 388133 | Both trading as Liberty Financial.