Debt Consolidation
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For Tradies & Business Owners
Too many loans, too many due dates. Let's roll it into one.
We’ve seen it all before. The ute's on finance and so are the tools. Add in a credit card or two, a personal loan from a quiet patch, and a mortgage that keeps creeping up. Then the cost of living jumped, and every week is now a juggling act.
You're not bad with money; your setup just stopped working. That's what Up Finance can fix.
What is Debt Consolidation?
It's rolling your debts, like car loans, credit cards and personal loans, into one loan with one repayment.
If you own property with enough equity, we can help refinance your home loan and fold those debts in together. This is useful as home loan rates are generally much lower than cards or car finance, so your monthly outgoings can drop.
Is Debt Consolidation Right for Your Business?
Before anything, we'll work out what your new repayment would be, whether the new rate actually beats what you're paying now, which debts are worth rolling in and which aren't, and what it costs over the life of the loan, not just this month.
If the numbers don't stack up, we're happy to tell you straight.
How It Works
First, have a chat with us. Tell us your numbers on what you owe and who to.
From there, we build out a personalised plan. We find the right lender and structure, including low-doc and alt-doc options for self-employed income.
Then we settle and simplify. What you end up with is one loan and one repayment, and we check in after settlement to keep you all on track.
No Band-Aids
Rolling debt into a 30-year loan without a plan just moves the problem. We map out how to pay it down faster, so you're not back in the same spot in two years.
Debt Consolidation - Frequently Asked Questions
Do I need to own property?
For a home loan debt consolidation, yes. You'll need a property with enough equity to cover the debts you want to roll in. Most lenders want your total loan to stay within a certain percentage of your property's value. If equity is tight, there may still be options, and we'll tell you what's realistic on the first chat.
Will I actually save money?
In most cases, your monthly repayments drop because home loan rates are generally much lower than credit cards, personal loans and car finance. But spreading short-term debt over a longer loan can mean paying more interest overall if it's not managed properly. That's why we look at the full picture, not just the monthly number.
Aren't I just stretching my debt over 30 years?
Not if it's done right. We set things up to take the pressure off now, then help you pay the debt down faster with extra repayments and regular loan reviews. The goal is getting you out of debt, not just moving it around.
Will this hurt my credit score?
Applying for a new loan involves a credit check, which can cause a small, temporary dip. We plan things properly before applying, so you're not hit with multiple enquiries from random applications. Once your debts are rolled into one and you're making regular repayments, your credit file usually improves over time.
I'm behind on payments or have bad credit. Can you still help?
Often, yes. Missed payments or a messy credit file don't automatically rule you out. We work with specialist lenders who look at your whole situation, not just a credit score.
I'm self-employed. Can I still get approved?
Yes. We regularly help tradies and business owners using low-doc and alt-doc options when tax returns don't tell the full story.
What docs do I need?
Usually your ID, latest tax returns or BAS, your home loan statement, and statements for each debt you want to consolidate. We'll send you a simple checklist after the first chat.
How long does it take?
Once we have your documents, most refinances settle within a few weeks. More complex situations can take longer, but we'll keep you updated the whole way.
Ready to get it sorted?
Book a free, no-obligation chat, and we'll tell you what's possible.