Debt Consolidation Loans

Simplify Your Finances, Reduce Your Stress

Struggling with multiple debts? Debt consolidation can help you combine loans and credit card balances into one manageable payment, often with a lower interest rate. At Stellar Finance Group, we find tailored solutions to help you regain control of your finances quickly and confidently.

What Is Debt Consolidation?

Debt consolidation involves combining multiple outstanding debts, such as credit cards, personal loans, store cards, and other high-interest borrowings, into a single loan with just one monthly repayment.

By streamlining your repayments into one manageable payment, debt consolidation helps simplify your financial obligations, reduces the stress of juggling multiple due dates, and often secures a lower overall interest rate. This can lead to significant savings on interest charges over time and makes it easier and faster for you to pay down your total debt balance.

Common benefits include:

One simple monthly payment instead of many
Potentially lower interest rates than credit cards
Improved cash flow and budgeting
Reduced risk of missed payments or defaults
Faster debt repayment timeline

How Does Debt Consolidation Work?

When you consolidate debt, you take out a new loan, usually a personal loan or a home loan refinance, and use the funds to pay off your existing debts. You then make repayments on the new loan, which ideally has a lower interest rate or better terms.

At Stellar Finance Group, we help you:

Assess your total debts and current repayments
Find the best consolidation loan options for your financial situation
Calculate potential savings and repayment timelines
Guide you through the application process from start to finish

Who Should Consider Debt Consolidation?

Debt consolidation is suitable for individuals who:

Have multiple debts with high-interest rates
Are struggling to keep track of numerous repayments
Want to reduce monthly repayment amounts
Seek to improve their credit score through responsible repayment
Need a clear plan to become debt-free sooner

If you’re juggling credit cards, personal loans, or store cards and want a simpler way to manage your repayments, consolidation could be the right solution.

Why Choose Stellar Finance Group for Debt Consolidation?

Our experienced brokers work with a broad panel of lenders to secure competitive rates and loan terms tailored to your needs. We provide:

Personalised advice based on your full financial picture
Access to both secured and unsecured consolidation loans
Support for borrowers with various credit profiles
Transparent, no-obligation consultations
Guidance on budgeting and managing repayments long-term

We aim to make debt consolidation straightforward and stress-free, helping you regain financial stability quickly.

Is Debt Consolidation Right for You?

While debt consolidation offers many benefits, it’s important to understand if it fits your unique financial situation. Debt consolidation works best when you’re committed to budgeting carefully and avoiding taking on new debt while repaying the consolidation loan.

Consider debt consolidation if you:

Have multiple debts with varying interest rates and repayment dates
Are paying high interest on credit cards or payday loans
Find it challenging to keep track of your repayments
Want to reduce monthly repayment amounts to ease cash flow
Aim to improve your credit score through responsible repayment
Are ready to create a clear plan to become debt-free

However, if you continue to accumulate debt or miss repayments, consolidation may not solve the underlying financial issues. Our brokers can help you assess your situation honestly and recommend the best financial path forward, whether it’s consolidation, budgeting help, or alternative solutions.

Frequently Asked Questions

What types of debts can I consolidate?

Credit cards, personal loans, store cards, payday loans, and other unsecured debts are commonly consolidated.

Can debt consolidation improve my credit score?

Yes, by making your repayments more manageable and reducing the risk of missed payments, debt consolidation can positively impact your credit over time.

Will I need security for a consolidation loan?

Both secured (e.g., home equity loans) and unsecured options exist. Secured loans often have lower interest rates but require collateral.

How much can I borrow for debt consolidation?

Loan amounts vary depending on your debts and income but typically range from $5,000 to $75,000 or more.

How long does the consolidation process take?

Approval times vary by lender but can range from a few days to a couple of weeks. We work to expedite the process for you.

Speak to Us

Take Control of Your Debt Today

Don’t let multiple debts overwhelm you. With expert advice and tailored loan options, Stellar Finance Group can help you consolidate your debts into one affordable repayment, so you can focus on your financial future.