Debt Consolidation Loans in
Perth
Roll your high-interest debts into one easy monthly repayment. We work
harder to say yes more often, helping you take control of your finances
today.
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Say Goodbye to Debt Stress
Managing multiple repayments is a full-time job. Let’s simplify your financial life.
One Easy Roll-Up
Juggling credit card bills, a personal loan, and a car repayment every month is stressful. A debt consolidation loan rolls all of that into one loan, one repayment, and one interest rate. You can focus on getting ahead instead of keeping up.
We Shop For You
At Yes Loans, we work harder to say yes more often. As a broker, we compare debt consolidation loans across our lending panel to find a structure that fits your situation.
No-Obligation Expert Advice
Whether you're dealing with credit card debt or a mix of both, our team can walk you through your options with no obligation.
One Easy Repayment
Roll multiple debts into a single monthly repayment and take the juggling out of your finances.
We Compare Lenders
As a broker, we shop your application across a panel of lenders to find the most competitive rate and terms.
Approval-Friendly
Been knocked back before? We work with lenders who look beyond a credit score and see the whole picture.
No Obligation
Chat to one of our brokers and find out where you stand before you apply with zero commitment.
Ready to take control of your debt?
Call (08) 9472 3000 or apply online. Our brokers will find the structure
that works for your budget.
What Is a Debt Consolidation Loan?
A debt consolidation loan is a type of personal loan used to pay out multiple existing debts at once. Instead of making separate repayments to several lenders, you take out a single loan that covers all of them. From there, you repay one fixed amount, to one lender, on one date each month.
“Debt consolidation is the most common reason Australians take out a personal loan, accounting for around 54% of all personal loan applications.”
With Australian credit card interest rates averaging around 20.99% p.a. (RBA), consolidating at a lower rate can reduce what you're paying in interest overall and get you debt-free sooner.
What Debts Can Be Consolidated?
| Debt Type | Notes |
|---|---|
| Credit cards | Consolidate high interest rates (avg. 20.99% p.a.) |
| Personal loans | Multiple loans combined into one fixed-rate loan |
| Car loans | Existing loans can be included depending on situation |
| BNPL | Buy Now Pay Later debts are increasingly included |
| Medical & Utility | Overdue medical or utility bills often eligible |
Choosing the Right Structure
There are two main ways to consolidate. Here is how they compare.
Secured Loan
Requires an asset as collateral
-
Lowest Interest Rates Lenders take on less risk
-
Higher Borrowing Limits Ideal for larger total debt amounts
-
Asset at Risk Car or property can be repossessed
-
Valuation Required Asset condition is assessed
Unsecured Loan
No collateral needed
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No Asset at Risk Peace of mind for your property
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Faster Approvals No asset valuations needed
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Slightly Higher Rates Based on your credit profile
-
Credit Weighted Income and history are critical
Can I Get a Loan with Bad Credit?
Yes, in many cases. The first quarter of 2026 has seen a surge in enquiries from Australians dealing with cost-of-living pressures, and many have less-than-perfect credit histories.
As a broker, Yes Loans works with lenders who are experienced with non-standard applications, including Pepper Money and Money3. They assess each application on its individual merits rather than a simple credit score threshold.
Worth Knowing:
A debt consolidation loan can actually help your credit score over time. Consistent, on- time repayments are a lot more manageable than juggling multiple debts.
Do I Qualify for a Consolidation Loan?
| Eligibility Factor | General Requirements |
|---|---|
| Age | 18 years or older |
| Residency | Australian citizen or permanent resident |
| Income | Steady income (incl. eligible Centrelink) |
| Credit History | Impaired credit considered by specialists |
| Debt-to-income | Manageable relative to your earnings |
A declined application can affect your credit file. Talk to our brokers first to check your eligibility without risk.
The Benefits of Consolidating
Simplified Finances
One repayment instead of many. No more tracking multiple due dates.
Lower Interest Costs
Consolidating at 12% p.a. vs 20.99% p.a. credit card rates saves significant money.
Clear End Date
Set terms mean you know exactly when you'll be debt-free.
Improved Credit
Consistent repayments build a positive credit history over time.
Things to Consider
Compare the Comparison Rate
Includes fees to show the true cost of the loan. Don't just look at headline rates.
Watch the Loan Term
A longer term reduces monthly cost but can increase total interest paid.
Licensed Lenders Only
Yes Loans holds ACL 392426. Always deal with licensed credit providers.
How to Apply in 3 Easy Steps
We Compare
Our brokers scan our panel (Latitude, Pepper, etc.) to find the right fit for you.
Get Funded
On approval, funds pay out your existing debts directly. You start your new schedule.
Frequently Asked Questions
about Debt Consolidation
What is a debt consolidation loan?
A debt consolidation loan is a personal loan that pays out several existing debts at once, replacing them with a single loan, one interest rate, and one monthly repayment. It’s designed to simplify your finances and can reduce your total interest costs if the new rate is lower than your existing debts.
Can I get a debt consolidation loan with bad credit?
In many cases, yes. Yes Loans works with specialist lenders including Pepper Money and Money3 who assess applications individually rather than applying a hard credit score cutoff. The rate you’re offered will reflect your credit profile, but having impaired credit doesn’t automatically rule you out. Chat to our brokers on (08) 9472 3000 to find out where you stand before you apply.
What's the difference between a secured and unsecured debt consolidation loan?
A secured loan uses an asset (such as a car or property) as security, which usually means a lower interest rate but more risk if you can’t repay. An unsecured loan doesn’t require security and is the more common choice for consolidating credit card and personal loan debt. Our brokers can help you weigh up which structure suits your situation.
Will consolidating my debts affect my credit score?
Applying for any new credit involves a credit enquiry, which has a small short-term impact on your score. Over the longer term, consolidation can actually improve your score. Making consistent repayments on a single manageable loan is a positive credit behaviour that builds your history over time.
Are there government debt consolidation loans in Australia?
How much can I borrow for debt consolidation?
Borrowing amounts depend on the lender, your income, credit profile, and the total debts you’re looking to consolidate. Most of the lenders on our panel offer debt consolidation loans from $5,000 upward. Our brokers can give you a clearer picture once we understand your situation. For smaller amounts under $5,000, our partner MoneyBuddy may be able to help.
What happens if I miss a repayment on my consolidation loan?
Missing a repayment can trigger a fee and, if not addressed, will affect your credit file. If you think you’re going to miss a payment, contact your lender before the due date. Most lenders would prefer to work something out than mark a default. It’s also worth checking whether loan protection insurance is an option when you take out your loan, as it can cover repayments in certain hardship situations.