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Loan Advisor Helping Client Regarding Debt Consolidation

Debt Consolidation

Consolidate all your existing loans into one and manage your instalments in one weekly, fortnightly or monthly payment with EFT Capital.

Debt consolidation combines multiple debts into a single payment. It can work for consolidation for bad credit and also if your debt isn’t too much and you have good credit and a plan to keep debt in check.

Apply online or call 1300 722 744 to talk to an expert!

Turn your multiple debt repayments into one, straightforward monthly bill with EFT Capital. We can help you combine your existing loan into a single, manageable repayment system. With debt consolidation, you can keep your debt in check, maintain your credit score, and stay on top of your game.

If you’re considering debt consolidation, then you need the expert team at EFT Capital. As reputable loan providers and financial experts, we understand the importance of flexibility and an easy to follow service when it comes to money matters.

Get in touch with our team today to find out more about our trustworthy debt consolidation in Australia.

What Is Debt Consolidation?

Debt consolidation refers to a form of refinancing where you take out one larger loan that encompasses all of your smaller, individual ones. You use this larger loan to pay off all your existing debt and turn your once complicated repayment system into a manageable monthly plan.

If debt consolidation sounds like the answer to your financial stress, then you’re not alone. According to the Reserve Bank of Australia (RBA), the average Australian household’s debt was around 189 times larger than their disposable income as of 2019, meaning it’s more challenging than ever to pay off those existing debts.

So, debt consolidation continues to grow as a feasible and flexible solution.

Calculator

$2,000 $20,000
26 weeks156 weeks
Your repayments are every weeks

The information which you calculate from this calculator is intended for use by you as a guide only. It is not an offer and has no legal effect on any contract entered into by you 'the client'. This simulation and the resulting calculations do not constitute a loan application or offer. The figures and formulae used within this calculator may change at any time without notice. Should you apply for any loan, we will make our own calculations. All repayments are displayed 'are guide only', repayments as a result of this simulation have no legal offerings. EFT Capital accepts no responsibility for any losses arising from any use of or reliance upon any calculation or conclusions reached using the calculator. Information provided on this calculator does not constitute an offer of finance. Any loan request is subject to assessment against normal lending criteria. Fees and charges may apply.

Total you will Pay:
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When Should I Opt For Debt Consolidation?

There are several circumstances where debt consolidation may offer the best solution for you. With EFT, we look for applicants with a total debt that is below 40% of their gross income, not including your mortgage repayments.

Along was this, you’ll need to demonstrate that your income is consistent and regular enough to meet your loan repayments and that you have a comprehensive plan to prevent your debt from increasing again.

Our experts can assist you in this process, helping you know the best time to opt for debt consolidation.

When Shouldn’t I Use Debt Consolidation?

It’s important to remember the debt consolidation isn’t a one-stop solution for all of your financial problems. A debt payoff method may be more suitable, especially if your debt is small and you’re able to pay it off within 6 to 12 months at your current repayment pace.

Equally, debt relief may be a better option if your debt repayments total more than 50% of your income. This option is likely to serve your needs better if you’re struggling to pay off your debts, even with reduced payments.

For more advice specific to your circumstances, give us a call today!

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Man Doing Debt Consolidation Calculations

Debt Consolidation Loans with EFT Capital

At EFT, we offer a range of debt consolidation loans that meet your repayment needs. If your loan amount is between $2 000 and $10 000, we offer a loan term of 6 months to 3 years with unsecured and secured options.

If your loan amount is between $10 000 and $20 000, we only offer a secured option across the same loan term of 6 months to 3 years.

Contact us today to find out more about the loans we have to offer.

Loan amount Secured options Loan term
$2000 – $10 000 Unsecured or secured 6 months to 3 years
$10 000 – $20 000 Secured only 6 months to 3 years

    Check your eligibility

    Apply For Debt Consolidation Online

    Submit an application online. Apply Now

    Upload all your supportive documents to your application or you can email it directly to us: charl@eftcapital.com Documents will be 2 payslips, 3 month bank statement, copy of driver’s license or passport, medicare card or bank card

    Our loan specialist will review your application and contact you to discuss

    If approved, loans terms will be provided and contract issued

    Client to sign contract electronically or manually

    Funds transfers to your bank account

    Frequently Asked Questions

    Faq-Debt consolidation

    Absolutely yes. We here to assist our existing client for any requirements they might have. Please get in touch without staff to discuss your options.
    Our friendly staff member will contact you as soon as a decision has been made. We can then discuss the terms of the offer.
    Once we have got confirmation you have signed our loan contract, funds will be transferred directly to your bank account. In most case the funds will clear your account instantly.
    Yes, we don’t charge any penalties for early payouts. We encourage any-one to make additional repayments to save yourself interest charges.
    Applying with EFT Capital is completely free. If we can assist you with your finance request, a staff member will notify you and answer any further question you might have.
    While you may see a decrease in your credit score initially, debt consolidation can help increase your credit score in the long term. This rise will follow your regular, on-time payments along with the absence of further debt.
    Your choice between a personal loan or a debt consolidation loan will differ depending on your type of existing debt. If you are unsure about which loan is best for you and your financial situation, talk to experts today for personalised advice.
    Unfortunately, you will always have to pay back your debts in one way or another. If you are struggling to pay off your debt, then a debt relief scheme may be the best option for you.
    That consolidation will help you turn your multiple exhausting loans into one single, monthly repayment. Talk to our experts for more advice on how debt consolidation can help streamline your loan repayments.