Debt Consolidation Loans NZ
One repayment. One rate. One finish date.
Roll your cards, buy now pay later and loans into one fixed repayment, compared across a panel of NZ lenders, with the whole cost shown before you sign.
One loan, or the juggle
Cards, overdrafts and buy now pay later are built to keep you paying. A fixed consolidation loan is built to end.
Cards, BNPL and overdrafts
- ×Revolving balances with no finish date. Minimum payments can run for years.
- ×Four providers, four due dates, four late fees waiting.
- ×Interest rates that move, limits that quietly grow back.
One fixed loan
- ✓One repayment, one rate, and a date it is done.
- ✓Fixed means fixed. The repayment never moves on you.
- ✓Paying it down can help your credit file, not haunt it.2
Know the day you'll be done
The best part of consolidating is not the paperwork, it is the certainty: a fixed repayment and an exact date the debt is finished. Every offer shows that date, and the whole cost of getting there, before you commit to anything.
- ✓Your old balances settled directly by the lender
- ✓One fortnightly repayment instead of the juggle
- ✓Total payable shown next to what you pay now
- ✓An honest no if consolidating would cost you more
Your offer, in full
Example1- Borrowed
- $20,000
- Establishment fee
- $240
- Rate, fixed
- 12.50% p.a.
- Term
- 4 years
- Fortnightly repayment
- $248
- Interest and fees
- $5,792
- Total payable
- $25,792
Example only, 14 October 2026. Your rate and fees depend on your credit file and the lender's offer.1
How consolidating with BorrowClub works
Apply once, online
Tell us about the balances you are juggling. About ten minutes, one question at a time.
Compare real offers
Each offer shows the repayment, the total payable and the finish date, next to what you are paying now.
The lender settles your debts
Pick an offer and the lender can pay your old balances off directly. One repayment from there.
Questions? We've got answers
Is consolidating my debt a good idea?
Honestly: it depends, and anyone who says otherwise is selling. Consolidation works when the new loan costs less in total than the debts it replaces, or when one fixed repayment is the difference between keeping up and falling behind.
It can cost you more if you stretch short debts over a long term, or if you clear the cards and then fill them up again. Your adviser will show you the total payable next to what you are paying now, and if staying put is cheaper, they will say so.
Which debts can I roll into one loan?
Typically credit cards, store cards, buy now pay later balances, overdrafts, personal loans and some car loans. Bring the balances and we will tell you what the panel will take on.
Does debt consolidation hurt your credit score?
Checking your rate does not affect your credit score.2 If you take a loan, a hard enquiry is recorded, and over time one loan being paid on schedule generally reads better on your file than several balances near their limits.
The good news: closing the juggle and paying one loan on time is one of the most reliable ways to rebuild a credit file.
Do my old debts actually get paid off?
Yes. For consolidation loans, the lender can settle your old balances directly, so the money never has to pass through your account and the slate really is clean. You will see exactly which balances are being settled on your offer.
What will it cost me?
BorrowClub never charges you a fee. The loan itself has a rate and usually an establishment fee, and every offer shows them in dollars with the total payable. See rates and fees for worked examples.
Visit the guides library for the longer answers.