If you're struggling to manage multiple debts, debt consolidation can be a great way to simplify your finances and save on interest charges. Future Finance offers a personalised approach to debt consolidation that can help you choose the right consolidation loan based on your financial needs. 

Debt consolidation is when you combine several debts into one loan and our team have been helping Kiwi’s do this for 25+ years. We are a New Zealand-based company with decades of experience. We’re Kiwi’s helping Kiwis.

Assessing Your Financial Situation

The first step in finding the right debt consolidation loan is to review your financial situation. This means listing all your debts and noting their interest rates, monthly payments, and due dates so you understand the full picture of your financial position.

Future Finance's Debt Consolidation Loans

We offer debt consolidation loans that are tailored to suit your needs. Once your loan is approved and finalised, the funds can be deposited into your account in as little as 60 minutes. This quick and simple process is part of our commitment to helping you manage your finances more efficiently and getting you back on track quicker.

Factors to Consider When Choosing A Debt Consolidation Loan

When choosing a debt consolidation loan in New Zealand, several factors must be considered to ensure that the consolidation loan meets your financial goals and situation.

Here are the key factors to keep in mind:

  • Interest Rates and Potential Savings

Before consolidating your debts, you should compare the interest rates of your current debts with the rate offered by the consolidation loan. A lower interest rate can lead to significant savings over time. You should also calculate the total cost of repaying your debts without consolidation and compare it with the total repayment amount under the proposed consolidation terms. This will help you understand the potential savings.

  • Fees Associated with the Loan

Some loans have documentation fees which will affect the total cost of the loan. If you're considering a balance transfer credit card, check if any balance transfer fees apply. These can impact how cost-effective the consolidation will be. 

  • Flexibility of Repayment Terms

Check the length of the repayment term. Although a longer term may result in lower monthly payments, it could also lead to higher total interest being paid. You should also check for any penalties for early repayment, as this could limit your ability to pay off the debt sooner if your financial situation improves.

  • Availability of Financial Counseling and Support

Some options include access to credit counselling services. These services can provide guidance and support in managing your finances. Make sure you choose a reputable credit agency that offers the support needed to help you stay on track with your payments. You can find who we recommend here

Make an Informed Debt Consolidation Decision with Future Finance

Simplify your financial condition with Future Finance, NZ’s leading 5-star finance company on TrustPilot. With over 25 years of experience and a commitment to transparency, we offer personalised debt consolidation loans with fixed interest rates and flexible terms. 

Call us now at 0800 25 10 10. We're here to help you consolidate your debt. Our team is ready to discuss the best ways to assist you.

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