commonly asked questions

No, you can consolidate as many debts as your new loan can cover. This includes credit cards, store cards, personal loans, car loans and more.

Yes, if you’re currently receiving a Centrelink benefit, you might still be eligible for a debt consolidation loan. Some lenders consider Centrelink payments as genuine income. Check the potential lenders income criteria – you may have to call.

This is completely up to you. General services of these companies include budgeting services, informal arrangements, debt agreements, bankruptcy and mortgage refinance. Make sure you understand the pros and cons of these services.

Banks generally offer personal loans for consolidation purposes, balance transfers for credit cards and home loan refinance.

No, a debt agreement is not a debt consolidation loan. A debt agreement is a form of bankruptcy and this carries with it other implications for your financial future.

This is based on the amount of debt and individual or family financial circumstances.