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Debt consolidation
Debt consolidation — one payment, one rate.
Replace multiple debts — credit cards, medical bills, store cards, other loans — with a single fixed monthly payment at one interest rate. Full cost disclosed before you decide.
Key facts
Four things to understand before consolidating your debt.
One payment
Replace multiple payments, due dates and lenders with a single fixed monthly payment to Micropath Finance.
Fixed rate
The same rate for the full repayment term — no variable-rate surprises from month to month.
Compare total cost
Consolidation saves money only if the new total repayable is less than the sum of your existing debts. Always compare.
Do not re-use cleared cards
Re-accumulating balances on paid-off accounts while repaying the consolidation loan creates more debt, not less.
What a debt consolidation loan does
It pays off multiple existing debts — credit cards, medical bills, store cards, other personal loans — and replaces them with a single loan. You get one monthly payment, one interest rate and one due date. The aim is simplicity and, where the consolidation rate is lower than your existing rates, a reduction in total interest cost.
When consolidation saves you money — and when it does not
Consolidation reduces total interest cost only if the new rate is lower than the weighted average rate across all debts you are consolidating. A lower monthly payment on a longer term can mean more total interest even at a lower rate. To find out whether consolidation works in your favour, compare the total repayable on the consolidation loan against the total you would pay continuing on your current repayment plans.
Fixed rate for the full term
The interest rate is locked at the time of your offer. Your monthly payment stays the same from the first installment to the last — no variable-rate risk, no increases mid-term.
What your offer will show
Before anything is agreed, you see the loan amount, interest rate, APR, any origination fee, every installment date and amount, and the total repayable. Compare the total repayable against the sum of what you currently owe across all debts being consolidated. That comparison tells you whether consolidation is financially beneficial in your situation.
One trap to avoid after consolidation
Once the consolidation loan pays off your existing debts, avoid reloading the credit lines you have cleared. Re-accumulating card balances while also repaying the consolidation loan creates more total debt, not less. Review your monthly budget before you apply to make sure you can sustain the new single payment.
What we review when you apply
We look at your credit history, income, all existing debt obligations and the amount requested. Your credit score is one factor. We assess your full financial profile.
Keep in mind. Consolidation only reduces total cost if the new rate is lower than your average existing rate — and if you do not re-accumulate balances on cleared accounts. Micropath Finance presents the full comparison before you sign.
What you can consolidate
Debt types a consolidation loan can cover.
Micropath Finance consolidation loans can include most types of unsecured consumer debt — credit cards, medical bills, personal loans and more.
Credit cards
Consolidate high-interest revolving balances into a single lower-rate fixed payment.
Medical bills
Combine outstanding hospital, specialist and procedure bills into one monthly payment.
Store cards
Clear high-rate retail finance accounts and replace with a single fixed-rate loan.
Personal loans
Roll multiple personal loan balances into one loan — simplify and potentially reduce cost.
Fintech balances
Consolidate buy-now-pay-later, earned wage access and app-based balances.
Utility arrears
Include overdue utility balances in a consolidation plan to restore services and simplify.
Illustrative example
Multiple payments replaced by one.
Three separate debts totalling $10,000 — consolidated into a single monthly payment at a single rate. The table shows what that looks like before and after.
Illustration only. Your exact rate, payment and total repayable depend on your application. Micropath Finance confirms every figure before you sign.
Understanding APR & feesDebtBalanceRateMin. payment
Card A$4,00024% APR~$120/mo
Card B$3,50022% APR~$105/mo
Medical$2,50018% APR~$75/mo
After consolidation$10,0001 fixed rate1 payment
Illustrative only. Your actual rate and payment are confirmed in your Micropath Finance offer before you sign.
What to check
Six things to verify before you consolidate.
Consolidation only makes financial sense if the numbers work in your favour. These six figures tell you whether they do.
Full guide to APR & fees- 01Total amount repayable — compare to the sum of all existing debts being consolidated
- 02The new APR vs. your average existing rate across all consolidated debts
- 03Monthly payment — confirm it fits your budget alongside remaining obligations
- 04Loan term — a longer term may lower payments but increase total interest paid
- 05Early repayment terms — whether you can reduce cost by paying ahead of schedule
- 06What happens if a payment is missed — fees, grace period and credit consequences
Loan terms at a glance
What to expect from a Micropath Finance consolidation loan.
Rate typeFixed for the full term — no variable surprises
RepaymentSingle fixed monthly payment — replaces multiple payments
Debt types coveredCredit cards, medical, personal loans and more
FeesFully disclosed before you sign — nothing hidden
APRDisclosed on every offer — compare to your existing rates
DecisionMicropath Finance — a direct lender, not a broker
Exact rates, fees and terms depend on your individual application. Micropath Finance presents the full offer before you sign — nothing is agreed until you accept.
How it works
Four steps from request to funds.
We review & approve
Micropath Finance reviews your full profile and gives you a clear decision with rate and repayment schedule.
Compare the numbers
You receive the full offer — rate, APR, fees, total repayable. Compare to your current obligations before signing.
Debts paid off
Funds are disbursed to pay off consolidated debts — then you make one payment to Micropath Finance each month.
Why Micropath Finance
One payment. Fixed rate. Full transparency.
Micropath Finance is not a broker. When you consolidate through us, you deal with us directly — we set the rate, review your application and fund any loan we approve.
Before you sign, we show you the complete picture: APR, every fee, each payment date and the total amount repayable — so you can see whether consolidation genuinely benefits you.
About Micropath FinanceAlso available
Explore other Micropath Finance products.
When you're ready
Apply for a debt consolidation loan — see if the numbers work.
Micropath Finance shows you the full cost and your single new payment before you commit — compare it against your existing obligations.
Common questions
Frequently asked questions
Will a debt consolidation loan definitely save me money?
Only if the consolidation rate is lower than the weighted average of the rates you are currently paying. To check, compare the total repayable on the consolidation loan against the total you would pay continuing on your current schedules. That comparison tells you definitively.
What debts can I consolidate?
Credit cards, medical bills, store cards, other personal loans — any combination of existing debts. The loan pays them off and replaces them with one fixed monthly payment.
Is the rate fixed?
Yes. The rate is locked at the time of your offer. Your monthly payment stays the same for the full term — no variable-rate risk, no mid-term increases.
How does consolidating affect my credit score?
Applying involves a credit check. Paying off multiple accounts can reduce your credit utilisation, which may improve your score over time. A hard inquiry may temporarily lower it.
What is the biggest mistake people make after consolidating?
Re-accumulating balances on the cards or credit lines they just paid off. This creates more total debt, not less. Before applying, review your monthly budget to make sure you can sustain the new single payment without relying on the cleared credit lines.
Does applying affect my credit score?
A soft inquiry at the initial stage does not affect your score. A hard inquiry may be made before final approval. We confirm which applies before you proceed.