Store cards, loans, credit card debt, hire purchases, buy now pay later and an overdraft piling up on you?

It might be time for a debt consolidation loan. Debt consolidation loans are designed to simplify your borrowing and repayments into one fixed-interest rate loan.

Putting your debts together into one personal loan with one repayment to manage so you can get ahead sooner. No stress.

Get an Instant Finance debt consolidation loan and find relief from bad credit, buy now pay later fees and multiple debts.

If you have judgments, defaults and or fines in your credit history this will be reflected in your credit score – even if you are currently paying these off. Consolidating multiple debts into one loan and establishing a positive repayment history will help you to begin to rebuild your credit score sooner.

Have a play with our loan calculator or talk to our helpful team to find out more about our debt consolidation options and see the estimated repayment for a specific loan term.

  • Fast online application

    Apply from anywhere, anytime! Not only is the application form fast, but it helps us collect all the information we need and process your application faster too.
  • Same day response

    When you need cash, you don't want to be held up. You can expect a same-day response about the next steps for your application.
  • Money in your account within 24hrs of approval

    Once your loan application is approved, you could have money in your account within 24 hours and get back to what you love.
  • Personalised rates

    Get an interest rate of your own! We know there's no one size fits all, so we tailor our interest rates to you and your financial situation. Why not have a play with our calculator?

What is a debt consolidation loan?

A debt consolidation loan is a type of personal loan that is used to pay off multiple debts and combine them into one, allowing you to make one payment each week, fortnight, or month to a single lender. This loan can be taken out at a lower interest rate than the original debts, meaning you can pay off your debts faster and potentially at a lower cost.


Secured or unsecured?

We offer two types of debt consolidation loans: secured and unsecured.  A secured personal loan is one where you can provide us with a charge over one or more of your possessions as security.

An unsecured personal loan is one where you do not provide us with a charge over one or more of your possessions as security.​

Available security may have an effect on how much you can borrow, and the interest rates you are charged. When you use security on a loan you are in effect guaranteeing that loan with those possessions.

Why you might need debt consolidation loans.

Consolidating your debts into one loan can have several benefits, including:

  • Easier to manage – With our debt consolidation loan, you’ll only have to make one payment each month, fortnight, or week instead of multiple payments to multiple lenders. This makes it much easier for you to manage your payments and stay on top of your debt.
  • Lower regular payments – Debt consolidations are often spread over a longer period of time, which can mean your regular payments are lower.
  • Improved credit score – Paying off your debt can help improve your credit score, which can open up more financial opportunities for you in the future.
  • Reduced interest rates – If you have a number of high-interest loans, a debt consolidation loan may provide the opportunity to reduce your overall interest rate by consolidating all your loans with a single provider at a lower rate.

Is a Debt Consolidation Loan Right For Me?

Learn More

Concerned a bad credit score or past finance may affect you when applying for debt consolidation loans?

If you’re wondering if you can qualify for debt consolidation in NZ with bad credit, you’ve come to the right place. We know that things don’t always go to plan, but we’re here to help. As a responsible lender, we listen to your unique loan circumstances and can make lending decisions that are both responsible AND fair for you. Find out more about getting debt consolidation loans for bad credit.

Our knowledgeable and friendly staff are here to help, too and will take the time to understand your current financial situation. Based on your past credit history, our team can establish whether debt consolidation loans for bad credit are available for you and even help you plan a household budget to make sure you stay on top of your loan repayments.

We’ll make sure you understand the terms and conditions of your loan, so you know exactly what you’re getting into. You just need to make sure you make your payments on time to avoid late fees or higher interest rates.


Apply for a personal loan to consolidate your debts today.

It’s easy and simple to apply for a consolidation loan or a debt consolidation loan in NZ for bad credit with Instant Finance. Just follow the steps below:

  1. Use our handy repayment calculator to work out what you think you may want to borrow and see what your repayment amounts might be.
  2. The fastest way to apply for your Debt Consolidation loan online is through our loan application form. We ask for information like how much you need, what is the loan for, how can we contact you, where you live and how you earn your income.
  3. As soon as we receive your loan application, we start working on how we can help make your loan possible.
  4. Our friendly team will get in touch with you to discuss your application, request any further information that we might need and finally your loan options.

Once approved, Instant Finance will either provide you with the funds to pay off your debts, or we will pay them directly for you - leaving you with the one simple loan with Instant Finance.


Ready to consolidate your debt?

Apply Now

Loan terms

Our minimum loan term is 3 months, and our maximum loan period is typically 5 years.

Interest rates

Instant Finance provides loans at an annual interest rate from 12.95% to 29.95% per annum.
The rate that applies to your loan will be based on a range of factors including your circumstances, credit history with us or others, the security you can provide and the loan amount.

Once set, our interest rate is fixed for the term of your loan.

Default interest rate

If you get behind in your loan repayments, then we may charge a default interest rate on any overdue loan payments, while they are unpaid. The Default rate that we charge is 10% per annum above the Interest Rate that normally applies to your loan.

On this basis the maximum annual interest rate charged would be 39.95%

Loan fees

We have various fees attributed to your loan which are added to your loan repayments.




Loan establishment fee

A one-off set up fee for your loan.

From $100 to $220 depending on amount of new money borrowed

Administration fee

A fee per instalment paid.

$3 (per instalment)

Variation fee

A one-off fee charged if your loan terms are changed.


Full repayment fee

A one-off fee if you pay off your loan in full before the final payment is due.

$25 + any calculated loss.   

ID Verification Processing Fee

A per verification charge through a 3rd party.


Loan Example:

The amount repayable of your loan is made up of your interest rate, plus fees. For example, if borrowing $10,000 repayable over 3 years at an interest rate of 29.95% you would be required to make 156 weekly instalments of $102.54. This repayment is made up of interest, an establishment fee of $220, an ID verification fee of $7.70 and an administration fee of $3.00 per instalment.

Total interest would be $5,300.54 with total fees of $695.7 making the total payable over the full term $15,996.24.