Personal Loans · Debt Consolidation Loans
Debt consolidation loans, compared for you
A debt consolidation loan rolls several debts into one loan with a single repayment. Noddle compares consolidation loans across a panel of lenders accessed through the Loan Market Group platform and arranges the one that fits, so you manage one repayment instead of several. The lender approves and funds it.
Noddle is a broker, not a lender. We find, compare and arrange; lenders approve and lend.
- Australian Credit Licence 526746
- Member of AFCA
- Servicing Australia, 100% online
- One application, many lenders compared
How does consolidating debt work?
You combine balances such as credit cards, store cards and other personal loans into one new loan. You then make one repayment, often at a lower rate than a credit card. Noddle compares the true cost, including any brokerage fee and interest over the term, so you can see whether consolidating actually saves you money.
When does consolidation help, and when does it not?
Consolidation can help when it lowers your rate or simplifies repayments you are struggling to track. It may not help if a longer term means you pay more interest overall, or if the habit that created the debt continues. Noddle shows the numbers plainly so the decision is yours.
Frequently asked questions.
A debt consolidation loan combines several existing debts into one loan with a single repayment. It can simplify your finances and, if the rate is lower, reduce what you pay in interest. Noddle compares consolidation options across its panel and arranges the one that suits your circumstances.
Reviewing options with Noddle uses a soft Access Seeker enquiry and does not affect your score. A formal application creates an enquiry on your file. Over time, making one consolidated repayment on time can support your credit profile, while missed repayments harm it, the same as any loan.
Possibly. A past default or a low credit score does not automatically rule you out, because some lenders assess your full circumstances rather than a score alone. Noddle compares options across its panel and arranges finance where a lender is willing to approve it, subject to responsible lending checks under the NCCP Act 2009.
Consolidating pays out the balances, but the cards stay open unless you close them. Many people close or reduce cards after consolidating to avoid running the balances back up. Noddle can talk through the options, though closing accounts is your decision to make.
Noddle may charge a brokerage fee for arranging your loan, and may also receive a commission from the lender. Both are disclosed upfront in our Credit Guide and your written quote before you commit. The brokerage fee can be paid upfront or capitalised into your loan. If capitalised, you pay interest on it over the loan term. All fees and commissions are disclosed in our Credit quote before you proceed.
About the author
Joshua Wessels is the founder of Noddle and leads its broking team. He has more than a decade in Australian consumer finance and holds a Diploma in Mortgage Broking. Noddle is a member of the Finance Brokers Association of Australia (FBAA member 362825) and the Australian Financial Complaints Authority (AFCA member 81857), and operates under Australian Credit Licence 526746.
Read more about the team on the Noddle team page.
Noddle Pty Ltd (ABN 63 643 806 759, ACN 643 806 759) operates under Australian Credit Licence 526746. Noddle is a credit assistance provider, not a credit provider. We arrange loans through a panel of lenders accessed via the Loan Market Group (LMG) aggregation platform. We are bound by the responsible lending obligations of the National Consumer Credit Protection Act 2009 and regulated by ASIC. Fees and any commissions are disclosed in our Credit Guide and your written quote before you commit. Any approval, rate and amount is determined by the lender, subject to their assessment.
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