Debt Consolidation Loans

It takes less than 15 minutes to apply for our debt consolidation loan.

Apply Now

It takes less than 15 minutes to apply for our debt consolidation loan.

Apply Now

 

It takes less than 15 minutes to apply for our debt consolidation loan.

It takes less than 15 minutes to apply for our debt consolidation loan.

Apply Online

A Debt consolidation loans is a type of loan that combines multiple debts into one new loan. By taking advantage of AMO's low rate debt consolidation loan, we can simplify your finances and help you to quickly eliminate your debt and leave more money in your pocket.

Q&A: Debt Consolidation Loans

Before you get started, here are some quick answers to some commonly asked questions about debt consolidation loans. Click on the sliders below to open up answers to the questions that interest you.

Q: What is a Debt Consolidation Loan?

A debt consolidation loan is a type of personal loan that allows you to refinance your multiple loans, such as your car loan or credit card debts and rolling them into one simple payment loan.

Q: Why Should I Use a Debt Consolidation Loan?

AMO can arrange to fix your repayments with a loan term to suit your budget. It's also a great step forward to eliminating your bad credit history and to consolidate multiple debts into one simple payment plan.

Q: What are Some Debt Consolidation Examples?

You can use a debt consolidation loan to bundle all your credit card, store card, personal loan and even car loan bills into a single repayment.

Q: How do I get Started?

Getting started with AMO is quick and easy. Simply call 1300 266 266 to book an appointment and have your finances sorted.

How Debt Consolidation Loans Work

Debt consolidation is one of the best ways to help people with bad credit. By moving all your separate balances into the one simple Debt Consolidation Loan, AMO can help you to quickly fix your bad debts. AMO's Debt Consolidation Loan is the first step to helping people re-establish their bad credit history, by allowing them to pay into one account as opposed to several.

Consolidating your Loan by using Equity in your Home

There are a number of proven methods for debt consolidation if you have equity in your home, often the most cost effective way is to redraw against your home loan to pay off other debts. Not only does this make repayments more manageable, but can substantially reduce interest and reduce payments, as home loans tend to have lower interest rates than other forms of credit.

Consolidate your Credit Card Loan into your AMO Home Loan Repayment

Alternatively, if you have an AMO home loan, you can roll all your small debts onto a low interest credit card, making substantial savings as this credit card is at home loan rates. The most important thing to remember if you are taking out a debt consolidation loan is to continue to pay as much as possible each month off the balance of the loan. By only paying the minimum amount per month, all debts will still be active for the whole life of the loan – up to thirty years.

There are many reasons why you should switch or consolidate debt into one easy-to-manage home loan with AMO.

  • &nbspSave money
  • &nbspSimplicity of one easy to manage repayment
  • &nbspReduce monthly repayments
  • &nbspEnd frustration with existing lender
  • &nbspClose other loan facilities such as credit cards, store cards or personal loans.

Case Study: How Joe and Wendy’s Debt Consolidation Loan Saved them $1556 per Month

When Joe + Wendy visited AMO, they were struggling with a home loan, two personal loans and three credit cards. AMO refinanced their home loan, consolidated their debts, lent them an additional $34,570 and still Joe + Wendy’s repayments were reduced by a staggering $1,556 per month.

Would you like more money in your pocket? Call AMO on 1300 266 266 for an obligation free mortgage health check. Alternatively, visit AMO and if we can’t improve your current home loan situation, we’ll give you $100 for your time. You’ve got nothing to lose yet you could save thousands. AMO … more money in your pocket.

Type of Loan AMO. Loan Amount Monthy Repayments
Home Loan 255,000 1,657
Personal Loan 1 7,290 376
Personal Loan 2 20,547 827
Credit Card 1 12,000 360
Credit Card 2 4,600 138
Credit Card 3 8,000 179
Total Expenditure 307,000 3,537
After seeing AMO    
Home Loan 342,000 1,981
Monthly Repayment Savings 1,556
Additional Cash 34,570

Tips to Make a Debt Consolidation Loan Work for You

If you take out a debt consolidation loan, make additional repayments reach month to reduce the total loan. Work out a household budget and stick to it to avoid the problem happening again. If you have problems sticking to your budget, try cutting up your credit cards and change to a debit card instead. They offer the flexibility and convenience of credit cards but allow you to only use your own money for purchases.