Debt consolidation loans – consolidate debt with a personal loan #credit #card #settlement

#consolidate debt loans


Personal loan for debt consolidation

Apply in a Branch and bring these things along for the best chance of getting your funds the same day.

  • The other applicant, if you’re applying for a joint loan.
  • Your latest payslip, if you’re not paid into a NAB account.
  • Your most recent Financial/Tax Statement, if you’re self-employed.
  • Your credit card or store card statements, if you’re consolidating debt.
  • Identification. Photo ID or a NAB card, if you already bank with us, or 100 points of ID, if you’re new to NAB.

Self-employed customers

Self-employed? We’ll need to verify:

  • Your most recent personal income tax return
  • Your most recent notice of assessment

If your business runs as a partnership, company or trust we’ll also need the following documents:

  • Partnership tax return
  • Company tax return
  • Trust tax return

Increasing your chances of approval

Here are some tips to improve your chances of being approved.

1. Check that you’re eligible to apply

  • Be 18 years or older.
  • Have a regular income or wage.
  • Have a good credit rating.
  • Be able to afford the loan repayments
  • Hold Australian citizenship or permanent residency (or be a New Zealand citizen or holding a 457 Visa)
  • Live in Australia

Note: To apply online you must be a NAB customer.

2. Check how much you can borrow

Use our Borrowing Calculator to get an idea of how much you may be able to borrow.

3. Build a good account history with us

· Got a NAB account? Get your salary paid into the account to establish a transaction history.

· Avoid overdrawing your account to show you’re able to manage your finances effectively.

· New to NAB? Begin a banking relationship with us first. It’s easy. Open a transaction account and pay your salary into it to start your transaction history.

This won’t guarantee approval on your application but, it will help us understand your financial position better.

4. Set up a regular savings plan

Show you can afford to service a loan by saving a set amount regularly (every week or month). This shows us you’re more likely to manage making regular loan repayments too.

5. Understand your credit report

Your credit history may affect how much you can borrow as well as your chances of approval. Activity such as overdue bills, missed credit card payments, arrears or debt collection could be recorded at a credit reporting body .

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