Debt Consolidation Loans NZ – Simplify Your Debt Repayments Today

Make your debts easier to manage with debt consolidation loans NZ. Consolidate up to $10,000 worth of debt through one of Monzi NZ’s many lenders. Apply and let us pair you with an available lender today. Fast outcomes. No paperwork. Apply now.

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Debt consolidation loans NZ

Drowning in debt? Struggling to keep track of multiple personal loans, interest rates, fees and repayments at once? Debt consolidation could be an option to help reduce your stress.

To put it simply, a debt consolidation loan takes all your outstanding debts and rolls them into one single cash loan. That means you only have to worry about one loan, one interest rate and one repayment.

When you apply for a debt consolidation loan, you’ll need to list the details of your outstanding debts. The loan amount you receive, if approved, is then used to pay-off the outstanding balances. That leaves you with just one debt consolidation loan.

Through Monzi NZ, you can apply for debt consolidation loans up to $10,000.

Apply today.

Debt consolidation loans bad credit

Managing your debts poorly can leave your credit score in a bad place. Unfortunately, when it’s time to consolidate your debts, this can be a problem.

Often, lenders are unwilling to consider bad credit applicants which can leave you short on options. Luckily, not all lenders are like that.

At Monzi NZ, we work with a number of lenders who may be willing to take on bad credit applicants. While they may investigate your credit history, they may also look at your income, expenses and outstanding debts too.

Depending on what they find, you may still be offered bad credit debt consolidation loans NZ regardless of your poor credit history.

In short, your credit history may not be the be-all and end-all of your application. Apply with Monzi NZ today and we may be able to pair you with a lender who can help.

What are the best debt consolidation loans NZ?

In short, Monzi NZ is unable to say what debt consolidation loan will be the best. This is due to the fact that it may be dependent on your financial situation.

For example, the best debt consolidation loan for you may be an unsecured loan with a short repayment period. On the other hand, for someone else, they may prefer a secured loan.

In any case, what we can say is that if you apply with Monzi NZ, we will aim to pair you with an available lender. This lender will then assess your application to ensure the loan is affordable for your circumstances.

As a result, you can be sure that if you are offered a loan, it will be one that works for you.

Easy debt consolidation loans

As we’ve mentioned, lenders are now more willing to potentially offer loans for bad credit. But that’s not all, they may be understanding of a range of other different circumstances too. Maybe you’re a low-income earner or receive benefit payments.

In any case, these easy lenders may have requirements and criteria that aren’t quite as strict as traditional lenders. As a result, you may still be able to access the debt consolidation loans you need in spite of your less-than-ideal financial situation.

In short, online finance has never been more accessible.

However, remember that approval is always at the lender’s discretion. While they may be more understanding of your situation, that does not mean approval is guaranteed. Your application will be assessed to determine the suitability of the loan for you.

Instant approval debt consolidation loans

Sure, you’re in a hurry to access debt consolidation loans, we get it. That’s why instant loans are so great.

While they may not be offered by all lenders, instant loans are processed so quickly that it feels like you have an outcome (good or bad) in no time. If you’re in a rush, they’re exactly what you need.

One thing to keep in mind is that an instant loan doesn’t mean the cash will appear in your account the moment you apply. Lenders are required by law to assess all applications they receive and as such, there will always be some processing time involved.

For more details regarding assessments and responsible lending, the New Zealand Commerce Commission has provided a useful breakdown.

Unsecured debt consolidation loans NZ

With an unsecured debt consolidation loan, you’re not required to attach an asset as security. Typically, however, lenders will only offer these loans for small amounts. This is because without an asset as security, the lender has no way to recover their losses should you default on your repayments.

Given this, they may only be an option for you if you are looking to consolidate a few minor debts. If you have a significant amount of debt then you may have no other option than to apply for a secured loan. However, lenders may vary on the the unsecured loan amounts that they are willing to offer.

One additional thing to note is that unsecured loans may come with interest rates that are higher than those applied to secured loans to account for the lender’s added risk.

Am I eligible to apply with Monzi NZ?

Monzi NZ may be able to pair you with an available lender who may offer the consolidation loans you require. However, before you begin, you must ensure that you are eligible.

At Monzi NZ, we have four simple boxes that you must tick. Check them out:

  • At least 18 years of age.
  • New Zealand citizen or permanent resident.
  • Have a current email address and contact number.
  • Hold an online banking account with at least three months of transaction history.

How do I apply?

So, now that you know you’re eligible, it’s time to apply. Just follow these quick and easy steps:

  1. Complete your application: select your loan amount, your preferred repayment period and then enter the required personal information when prompted. Hit ‘submit’.
  2. Wait while our automated system attempts to pair you with an available lender willing to assess your loan application. This may take as little as one hour.
  3. We’ll contact you via text with an outcome. If the search is a success then the lender you are paired with will be in touch to begin the assessment process.

What is the interest rate on debt consolidation loans NZ?

The interest rate applied on your loan will vary. Lenders calculate the interest rate you will be charged based on a number elements.

This may include:

  • Secured or unsecured debt consolidation loans?
  • The repayment period.
  • Loan amount
  • Your credit history: bad credit loans may attract higher interest rates.

Can I consolidate a large debt with Monzi NZ?

Monzi NZ works with lenders who may offer large loans for debt consolidation up to $10,000. So, if you’ve got a substantial amount of debt to consolidate, we may be able to put you in touch with a lender who can help.

However, if your debt exceeds this amount, then, unfortunately, we will likely be unable to assist you. If this is the case, you may need to do your own research to find a lender who can help.

What are the chances of getting a debt consolidation loan?

Unfortunately, Monzi NZ cannot say what your chances are. In short, approval is subject to a number of factors. Typically, in assessing your application, lenders will take into account the following in order to reach a decision:

  • Your credit history
  • Income
  • Expenses
  • Current debt outstanding debt amount
  • Other relevant factors (e.g. if you receive benefit payments)

In saying this, remember that all applications will be assessed on their merits. While you may have bad credit or other such circumstances, they won’t necessarily stop you from accessing the finance you need. However, approval is always at the lender’s discretion.

Are debt consolidation loans NZ worth it?

In short, this will depend on your financial situation as well as the bad credit debt consolidation loans unsecured that you are applying for.

Ultimately, the goal of debt consolidation is to make your debt easier to manage. Rather than making multiple repayments, you only need to focus on repaying one loan. So, if you are struggling to keep track of your repayments then it may be worth it.

However, it’s not quite that simple. Further considerations include the costs as well as the repayment period. Try to ensure that you have a clear path to repaying your debt and that you will save money on your interest payments.

Compare debt consolidation loans NZ

Doing a comparison on your loan options is a must. Not only can it potentially save you money but it may also help you find the one that works best for your circumstances too.

For instance, if you prefer smaller regular repayments then you’ll likely prefer a loan with a longer repayments.

In any case, other factors that you can use to compare loans include:

  • The interest rate (cheap loans may save you money)
  • The amount you are able to borrow.
  • Any fees or charges added to your loan (e.g. late fees).
  • The repayment period.
  • Who is the lender and are they trustworthy?

What are the risks of debt consolidation?

First and foremost, when you consolidate your debt, you need to make sure that you are paying less. While it may make your life easier, if debt consolidation will increase your debt or interest payments then it may not be right for your circumstances.

Don’t wait until it’s too late. Before agreeing to any debt consolidation loan, do the calculations to ensure the numbers add up.

In addition to this, debt consolidation can be risky if you do not implement effective borrowing habits. If, after consolidating your debts, you continue to rely on other sources of credit then you may find yourself further in debt.

Repaying the best debt consolidation loans

Debt consolidation loans allow you to roll your existing debts into one easy-to-manage loan. With that, comes one regular repayment.

If you apply for debt consolidation loans through Monzi NZ, you might be able to tailor that repayment to suit your circumstances. Our lenders offer repayment periods that can range from 12 to 24 months while you’ll also get the choice of weekly, fortnightly or monthly repayments.

Making repayments is so easy too. Just establish a direct-debit from your account and they’ll be automatic. You won’t have to lift a finger. Just ensure there’s enough money in your account on the relevant dates.

Will debt consolidation loans NZ hurt my credit score?

Debt consolidation can affect your credit score. However, whether it’s positive or negative will depend on how you manage it.

In the short term, it may be adversely affected as new credit applications and opening new credit accounts can lower your credit score.

In the long-term, if you take out a debt consolidation loan and then miss repayments or make them late, then your credit score will be negatively impacted. This is the same with any other credit product.

On the other hand, debt consolidation can help improve your credit score over time if you make your repayments on time and implement effective borrowing habits. However, it may take a while to see results.

Why should I use Monzi NZ’s lender-finder service?

Monzi NZ can make it simple, quick and convenient to be paired with an available lender. However, that’s not all. There are plenty of other benefits that you’ll experience when you apply with Monzi. See below:

Fast outcomes

If you apply during business hours with Monzi, we might be able to pair you with an available lender in just 60 minutes. Not only that, the lender you are paired with will work fast to assess your quick loan application too. You might even have an outcome before you know it.

Apply in minutes

With Monzi NZ, your work is done in minutes. All you need to do is decide how much you wish to borrow, your ideal repayment period and then provide the required personal information. From there, we take over and set about finding a lender for you. In short, you’ll be able to get on with your day sooner.

Apply anywhere, anytime

Monzi NZ provides a 100% online, lender-finder service. That means you can apply for debt consolidation loans NZ from whatever location you choose (as long as you have an internet connection).

Whether you’re on the North Island or South Island, in the city or in a small town, it doesn’t matter with Monzi NZ. Just head to our website and apply when you’re ready.

Transparency is key

We’ve outlined our process so you know exactly what will occur at each step along the way. Not only that, the lenders in our network share this commitment to transparency too.

If you are offered a loan, all the repayments, interest rates, fees and charges that you may encounter will be clearly outlined for you in your contract. There’s no hidden information. Just read your contract thoroughly and you’ll know exactly what you’re signing up for.

We’re always willing to help

If you’ve got questions or concerns, we’re happy to help you out. Just email us at and one of our wonderful customer service representatives will get back to you. After all, we want you to be totally comfortable before you apply, so don’t hesitate to reach out.

What should I avoid?

While if you apply with Monzi NZ, we may be able to match you with a licenced and trusted lender, if you opt to go it alone then there are a few things to be aware of.

Less reputable lenders are out there and may try to exploit you. As a result, it’s important to do your research and ensure you are dealing with a lender who goes about things the right way.

As a general rule, avoid lenders who do the following:

  • Are unlicensed.
  • Offer instant, guaranteed approval (Try to instead look for quick approval).
  • Ask you to sign blank documents.
  • Fail to clearly outline your repayments as well as the interest rates and fees applied.
  • Rush you to sign and agree to the loan.

Apply now

Apply for debt consolidation loans NZ today. You may be able to reduce your stress and save money at the same time. Use the loan slider at the top of the page to begin your application.

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Here are some costs you may incur if Monzi is able to match you with a lender today.

Loan amount

$300 - $10,000


12 months to 24 months


Interest Rate between 1.5% and 20% per month

$2,500 repaid over 13 months would have 56 weekly repayments of $75.05. Total interest $1702.80. Total amount repayable $4,202.80. This example is based on a monthly interest rate of 9% and an AIR of 108%.

WARNING: This is a repayment estimate only. Your lender will determine the exact fees, terms and loan amounts available for you, which may alter your repayments. Annualised Interest Rates (AIR) could be as high as 292% depending on your personal situation.
Note, your lender may offer you different terms, fees or loan amounts based on your individual circumstances, needs and their own lending criteria. Please check your contract before signing