Debt consolidation is the process of taking out a loan to pay off one or more debts that you currently have—for example, credit card balances, or small loans you may have taken out. Debt consolidation is a manageable and often more affordable way to regain control of your finances.
Consistent monthly payments
Fixed APRs from 11.8% to 49.8%
Deposit funds into your bank account
Funds as soon as next business day ‡
We give you the flexibility to personalise your loan and choose the best option for your needs.
When you consolidate your debt with an instalment loan, you only have one monthly payment to keep track of, rather than having to manage multiple bills every month. An AvantCredit loan allows you to pay off debt on your terms, making it easier for you to manage your finances.
An AvantCredit loan will provide you with a fixed interest rate and payment schedule for the full term of your loan. You will know exactly what your monthly payments are and how many of them you have remaining until your loan is paid off. Your interest rate will never change during the life of your loan.
When you’re in debt, missing just one payment can damage your credit score and increase your interest rate. With a loan from AvantCredit, you can set your payments to be automatically withdrawn from your bank account every month. You never have to worry about forgetting to make your payment and you can choose your own payment date.
Your repayment period may be extended by combining various different debts into one large repayment. With a longer repayment period, you may also pay more interest over time than you would have if you paid off each debt individually.
Debt consolidation could be a viable option for anyone who is looking to find a simpler way to manage their finances. If you are interested in paying one fixed interest rate while reducing the amount of monthly payments you have to make, then consolidating your debt might be the solution for you.
Check your rate to find out if an AvantCredit loan could help you lower your debt.