Debt Consolidation Loans
Debt Consolidation Loans
Looking to consolidate your debt?
Consolidating your debt can simplify your finances. It’s important to note that having debt doesn’t necessarily reflect poorly on your financial management skills – in fact, it’s quite common. On average, Australian households have a personal debt of $17,700. Excluding mortgages and credit cards. Including credit cards, this number rises to nearly $20,000.
Key Advantages of Debt Consolidation
- Simplified Repayments: Managing one recurring repayment is easier than juggling multiple repayments.
- Clear Payment Schedule: With consolidation, you have a clear schedule for paying down your debt, eliminating the confusion of multiple timelines.
- Improved Budgeting: Consolidation allows for better control over your monthly budget and cash flow, as you only have one debt to track.
Wonder Loans is a fast and flexible online lender that specialises in delivering reliable, convenient, and simple personal loans for debt consolidation.
- 100% Online
- Simple & Easy Application
- Fast Outcomes & Funds Transfers
Debt Consolidation Loan Details
| Feature | Details |
|---|---|
| Loan Amount From | $2,100 – $25,000 |
| Loan Terms | 9 – 48 months |
| Type of Rate | Fixed |
| Repayment Type | Weekly, fortnightly or monthly |
This is not an offer for credit. The amount you can borrow as well as the offer you receive may vary once you complete an application and all relevant details are captured and verified. Fees, credit criteria and terms and conditions apply. Example tables and calculators are illustrative only and are not intended to be your sole source of information when making a financial decision. Consider whether to get advice from a licensed financial adviser.
Our Debt Consolidation Benefits
- Simplify multiple debt repayments
- No early repayment fees
- Get started in minutes
How does debt consolidation work?
Debt consolidation simplifies your financial obligations by combining multiple debt repayments into a single loan, providing you with better control over your finances.
By acquiring a new personal loan and using the funds to settle your existing debts, you can streamline your repayments into one manageable installment over a specified period. This offers clarity and predictability, enabling you to budget effectively and plan your finances with confidence.
If you find yourself managing various debt repayments simultaneously, consolidation serves as an effective tool to organize your finances and stay in control of your monetary commitments.
When refinancing or consolidating your existing debt, it’s important to note that you may incur higher total charges if the interest rate and fees are elevated, or if the loan term is extended. Additionally, careful consideration should be given to the potential effects of increasing your debt, monthly obligations, and the duration of your repayment term.
Loan Eligibility Requirements
To be eligible to apply, you must meet these basic criteria:
- Be at least 19 years old
- Have stable employment, either permanent or casual
- Demonstrate a consistent income deposited into your personal bank account for the past 90 days
- Manage your finances responsibly and comfortably handle existing financial obligations
- Be an Australian citizen or permanent resident with a permanent address
- Possess an active email address, phone number, and online banking account registered in your name
Important Considerations
We consider a broader spectrum of credit histories compared to traditional banks or prime lenders. However, we advise against submitting an application if:
- You are currently bankrupt or have been discharged for less than three years, and you haven’t regained control of your finances
- You are struggling to comfortably manage your current financial commitments
Required Information
You will need to provide:
- Essential personal details (such as full name, address, birthdate, employer, and dependent numbers)
- Online banking credentials
- Additional information or supporting documents may be required
Personal Loan Options
Unsecured Personal Loan
- Amount: $5,000 – $15,000
- Interest Rate: 17.95% to 24.95%
- Comparison Rate: 32.40% to 39.63%
- Repayment Cycle: Weekly, fortnightly or monthly
Secured Personal Loan
- Amount: $5,000 – $25,000
- Interest Rate: 14.95% to 27.95%
- Repayment Cycle: Weekly, fortnightly or monthly
- Security: Required
Comparison Rate Warning: the comparison rate is based on $10,000 over 36 months. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Easy Application Process
We understand the significance of receiving your funds promptly. As a diligent Australian, you shouldn’t have to deal with unnecessary paperwork.
That’s why we’ve refined our loan application process to be straightforward and swift, ensuring minimal hassle for you.
Apply for a debt consolidation loan today and take control of your finances.
Please note that this communication does not constitute a credit offer. The borrowing amount and the terms of the offer are subject to change based on the completion of your application and the verification of all pertinent information. Fees, credit criteria, and terms and conditions will apply.
