Juggling multiple repayments costs you more than money. We review your situation and match you to the right lender to roll your debts into a single, simpler loan — potentially at a lower rate than you are paying now.
Reviews collected under Lending Room — the team behind Moola
One short form. We review your existing debts and find the right consolidation lender for your situation.
List out what you owe — credit cards, personal loans, buy-now-pay-later balances, whatever it is. We will assess the full picture and work out what a consolidation loan could look like for you.
We run a soft credit check with no impact to your score and review your situation. Then we match you to the lender on our panel best placed to consolidate your debts at a competitive rate.
If you are happy with the approval, we guide you through to settlement. Your existing debts are paid out and you are left with a single monthly repayment — potentially at a lower rate than you were paying before.
Could you save by consolidating?
Enter your current debt details to estimate your potential savings.
Guide only. Savings depend on your actual rates, balances and lender. Rates from 8.99 to 29.95% p.a. (AIR). Broker fee up to $1,500 and lender establishment fees up to $450 may apply.
If you are paying high interest across multiple accounts, a consolidation loan can bring them together into one manageable repayment — often at a lower overall rate.
Credit card debt is one of the most expensive forms of borrowing. Rolling your card balances into a lower-rate loan can save significantly over time.
Typical rate: 19 to 28% p.a.If you have multiple personal loans at different rates and terms, consolidating them simplifies your repayments and may reduce your monthly outgoings.
Typical rate: 12 to 25% p.a.BNPL balances with multiple providers can quickly add up. Consolidating them into a single loan gives you a clear payoff date and a single repayment.
Typical rate: 0 to 30% p.a.If you have an existing vehicle loan at a high rate, we may be able to consolidate it along with other debts into a better overall arrangement.
Typical rate: 10 to 25% p.a.Store credit and retail finance often comes with high interest rates once an interest-free period ends. Consolidating before that happens can save you a lot.
Typical rate: 20 to 30% p.a.Have something else? Payday loans, overdrafts or any other high-interest debt may also be eligible. Apply and we will assess what can be included.
Varies by debt typeWe are not a lender. We work for you, finding the right consolidation loan from our panel of vetted NZ lenders so you actually come out ahead.
We use a soft check that leaves no mark on your file. Shopping around with multiple lenders directly means multiple hard inquiries — which can lower the very score you are trying to protect while reducing your debt.
Tell us about your debts once and we do the work. No filling in the same information across five different lender websites while trying to figure out which one will give you the best deal.
Our panel includes specialist lenders who are often more competitive than the major banks on consolidation lending. The right rate can make a significant difference to how much you save.
We review your debts and situation before approaching any lender. That means we only present you with an option that actually makes financial sense for your position.
We work with employed New Zealanders who have a stable income, a clean or near-clean credit record, and debts they want to bring under control.
Full-time, part-time or self-employed with a regular, verifiable income. Lenders need to see that a single consolidated repayment is comfortably within your means.
NZ citizens and permanent residents are welcome. Open and employer-specific work visas with at least 13 months remaining are also accepted.
We work with borrowers who have a good credit record. Having some debt is fine — that is what we are here to help with. We assess your overall financial position, not just the total you owe.
We consolidate across terms of 6 to 84 months. The right structure depends on your total debt, income and what monthly repayment works best for your situation.
Takes about 5 minutes. We review your debts, assess your situation and come back to you with the right match. No credit score impact at this stage.
Apply in 5 MinutesReal feedback from New Zealanders we have helped get on top of their debt.
Everything you need to know before you consolidate your debt through Moola.
Still not sure? Talk to our team
It depends on the rates involved. If we can consolidate your debts at a lower overall rate than you are currently paying, you will pay less interest over time. The savings calculator above gives you an estimate. The key is to not take on new debt after consolidating — otherwise you are back where you started.
No. We use a soft credit check during our assessment which does not appear on your credit file and has no impact on your score. Once matched, some lenders accept our check while others may run their own standard check as part of their approval process. We will be clear about this before anything happens.
We can consolidate credit cards, personal loans, car finance, store cards, buy-now-pay-later balances and most other forms of personal debt. Mortgage debt cannot be consolidated into a personal loan. If you are unsure whether your debts qualify, apply and we will let you know.
Applying through Moola does not affect your score because we use a soft check. Over the longer term, successfully consolidating and consistently repaying a single loan can actually improve your credit profile — you reduce your number of open accounts and demonstrate reliable repayment behaviour.
Rates on our panel start from 8.99% p.a. (AIR). The rate you are offered depends on your credit profile, income, the total amount you are consolidating and the term. We work to find the most competitive rate available for your situation.
A broker and introducer fee of up to $1,500 applies when your loan is successfully funded. This is clearly disclosed before you commit and there is no obligation to proceed at any stage. Lender establishment fees of up to $450 may also apply. There are no upfront fees to apply.
The application takes about 5 minutes. Most applicants hear back the same day. Once approved and settled, the lender typically pays out your existing debts directly within one to two business days, leaving you with a single new loan.
A previous decline does not necessarily mean you will not qualify through Moola. Different lenders assess applications differently, and we work with specialist lenders who take a broader view of your situation. Apply and we will give you an honest assessment of your options.
Debt consolidation means taking out a single new loan to pay off multiple existing debts. Instead of managing several repayments at different rates and due dates, you have one fixed monthly payment at one rate for one agreed term.
Whether it is a good idea depends on the numbers. If the consolidation rate is lower than your weighted average rate across your existing debts, you will pay less interest overall. If the term is longer, your monthly payment may be lower even if the total interest cost is similar. The right answer depends on what matters most to you — reducing monthly outgoings or paying less total interest.
Consolidation works best when you commit to not taking on new high-interest debt after settling. The goal is to simplify and reduce your debt position, not to free up credit to spend again.
Applying for a consolidation loan through Moola does not affect your credit score because we use a soft credit check at the assessment stage. This is different from applying directly with a lender, where each application results in a hard inquiry on your credit file.
Once your consolidation loan settles and your previous debts are paid out, your credit profile often improves over time. You reduce the number of open credit accounts, lower your overall credit utilisation rate and build a track record of consistent repayments on a single account. For most borrowers who stay disciplined, consolidation is a net positive for their credit profile over the medium term.
The most common mistake is paying off credit cards through a consolidation loan and then running them back up again. This leaves you with more total debt than when you started. If you are consolidating card debt, consider whether to close or reduce the limits on those cards after settlement.
A balance transfer moves your credit card debt to a new card with a low or zero interest period, typically 6 to 24 months. It can work well if you can clear the balance before the promotional rate ends, but if you cannot, the revert rate is often very high.
A consolidation loan gives you a fixed rate for the full term with set repayments, so you know exactly when you will be debt-free. It can also consolidate different types of debt — not just credit cards — into a single structure.
If you have a mix of credit cards, personal loans and other debt, a consolidation loan is usually the more practical and predictable option. If you only have credit card debt and a clear ability to repay within a promotional window, a balance transfer may also be worth considering.
One application. We review your debts, assess your situation and come back to you with the right lender and rate. No credit score impact and no obligation to proceed.
