Why get a debt consolidation loan?

Who is debt consolidation forWhy debt consolidation?

A debt consolidation loan can help people simplify their finances by combining all of their debt into one simple loan.  Consolidating will help relieve the stress of having to manage so many debts that are set up as different repayments, due at varying times of the month with different interest rates and varying fee structures.

With a debt consolidation loan, people have one loan, one interest rate and one regular payment.  This regular payment can coincide the borrower’s wages whether it is weekly, fortnightly or monthly. Once the debt consolidation is in place, the account can be structured to set up a budget that works for the borrower.


Debt consolidation success stories (Why is debt consolidation good?)

There are so many inspirational, debt consolidation success stories that can help people realise that it is beneficial to consolidate debt that is causing unnecessary stress.  Here are a few success stories.

“I have been with NZCU South since I was nineteen, straight out of school, 1st paid job… Now 44 and I would never change banks. NZCU South has have helped me get out of debt and now I am debt free.” Tom

“NZCU South is very helpful when it comes to debt consolidation, rather than telling us what amount of money we spend on things such as groceries and bills, NZCU South asks and checks to see how much we do spend. NZCU South doesn’t put you in the same box as everyone else; they recognise that you are an individual”.  Jackie

There are many reasons why people should consolidate their debt, but the main reasons are the lower interest rates, fewer fees, only one loan to pay and feeling less stressed about their finances. If you are struggling with too much debt, consolidation may be an option for you.

Try our debt consolidation calculator to see how much money you could afford or how much you could save with NZCU South.



Interest Rate



36 month(s)

Your repayments could be as low as*:

$0 per

0 Repayments
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* Please note the calculations provided are estimates only, and do not constitute a quote; actual rates, fees and repayments may differ from those shown here.

Home owner [or NZCU South mortgage customer] personal loan rates from 9.95% p.a. Non-home owner [or Non-mortgage customers] rates from 13.95% p.a. Important terms and conditions, including lending criteria, fees and charges apply.  Minimum loan value $5,000. Finance provided by Credit Union South, trading as NZCU South.  Other rates available on request.


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For more information on ‘why get a debt consolidation loan’ or to apply for an NZCU South Debt Consolidation Loan:

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