Let's clear a few things up.

Debt consolidation means using a new loan to pay out eligible existing debts, leaving you with one loan repayment. It changes how your debt is organised; it does not make the debt disappear. Whether it helps depends on the new loan’s costs, term and repayments, as well as what you do with the cleared accounts.

Refinancing replaces an existing loan with a new one. Consolidating combines multiple debts into one. You can refinance one personal loan without combining any other debts, or refinance as part of a consolidation.

Not necessarily. A lower regular repayment can improve monthly cashflow, but a longer term may mean more interest overall. Fees, charges and any costs of paying out your old debts matter too. Look at the total cost as well as the repayment.

Unsecured personal debts: credit cards, personal loans, BNPL, store cards, unsecured car loans and other unsecured personal debts. Home loans, property debt, HECS-HELP, secured asset loans and business borrowing are outside this calculator’s scope.

No. This calculator runs on the numbers you enter and does not request your credit report. It does not submit a credit application. Talking to a broker or applying later is a separate process, and an application can involve credit checks.

No. You do not need to enter your name, email or phone number to use the calculator. Optional debt nicknames are just for keeping your rows organised. Inputs are stored in this browser so you can return to them; Reset clears them.

It uses one fixed illustrative example — an example interest rate and an 84-month term with monthly repayments. These are example settings only, not an offer and not an indication of what you qualify for. Fees and charges are excluded, and your actual loan may be different.

You can compare monthly repayments without entering existing rates. To estimate current total interest, every debt row needs a rate. Check your statement. Many BNPL products charge fees rather than interest; enter 0 if there is no interest, and remember the calculator does not include those fees.

Weekly repayments are multiplied by 52 and divided by 12. Fortnightly repayments are multiplied by 26 and divided by 12. These are monthly equivalents, not a claim that every calendar month has the same payment dates. New-loan weekly and fortnightly figures are equivalents of its monthly repayment, not lender repayment schedules.

Yes. The optional additional-funds field adds an amount to the illustrative consolidated loan principal. It also increases the new repayment and interest. Any request for extra funds would be subject to lender assessment. Comparing a larger new loan with existing debt alone is not a like-for-like cost comparison.

It assumes each current debt keeps the rate and repayment you enter, with monthly interest, no new borrowing and no fees. It simulates up to 600 months. Real minimum repayments, daily interest and changing rates can produce different results. If a payment does not cover interest, it flags that the balance may never be paid off at that payment.

Eligibility depends on the lender and loan. A lender generally assesses income, expenses, debts, credit history and whether the proposed repayments are affordable. The calculator cannot assess eligibility or say whether you will be approved. Finsterl Finance can discuss your circumstances and the application process.

Employment type does not tell the whole story. Lenders have different policies and may ask for evidence of stable income or business income over time. Casual, contract and self-employed applicants may need different documents. A broker can explain what information may be needed without promising an outcome.

Generally, identity documents, income evidence, bank statements and details of debts and regular expenses. Depending on your situation, a lender may request payslips, tax documents or other evidence. Check the requested list before sharing sensitive documents and use the secure method provided.

Timing varies with the lender, the complexity of your circumstances and whether the documents are complete. There is no approval-time promise here. Ask the broker what steps remain and what information they need before making plans around a potential loan.

A formal application usually involves a lender checking your credit history. Credit applications can appear on your credit report. Ask what stage involves an enquiry and who will receive an application before proceeding. Calculator use itself does not involve a credit check.

There is no guaranteed credit-score outcome. Applications, account changes and repayment behaviour can all affect your credit file. Making repayments on time and avoiding more debt may support your financial position, but consolidation is not a credit-repair promise.

You can ask the credit reporting body or credit provider to investigate and correct inaccurate information. Keep copies of documents that support your request. You do not need to pay someone simply to request a correction. If unresolved, check the provider’s complaints process and relevant external dispute-resolution options.

Check the interest rate, comparison rate where provided, establishment and ongoing fees, early repayment or payout costs, and total amount repayable. Read both the new loan terms and your existing agreements. This calculator excludes fees and charges, so it is only a starting point.

Interest is charged while money remains owing. Spreading repayment over a longer period can reduce each repayment but keep the balance outstanding for longer. A lower rate does not automatically cancel out that effect. Compare total interest and fees over the full term.

It depends on the loan terms. Some loans allow extra repayments, while others restrict them or charge fees. Ask how extra payments are applied and whether they shorten the term. Do not assume the illustrative loan’s repayment flexibility matches a real product.

A comparison rate combines interest with certain fees and charges into an annual percentage based on prescribed assumptions. It does not include every possible cost and may not reflect your amount or term. The example figures in our calculator are illustrative only and are not a comparison rate.

A consolidation loan may be able to pay out eligible credit card balances, subject to lender assessment. Ask how payout amounts are confirmed and whether cards must be closed or limits reduced. Keeping cleared limits available can create a risk of building debt again.

Potentially, depending on the lender and the BNPL account. Include the amount still owing and your actual repayments. A BNPL balance with no interest can still have fees, and moving it into an interest-bearing loan may increase its total cost. Assess the whole picture.

Taking on new balances after consolidation can leave you with both the new loan and more debt. Consider whether keeping the accounts fits your budget and habits. Ask about closing or reducing limits and check how recurring payments would be handled before closing anything.

Minimum payments often change as the balance changes. Paying only the minimum can leave a balance for a long time, particularly if new purchases continue. The calculator’s current-debt estimate assumes the repayment stays fixed, so it may not match a decreasing contractual minimum.

No. Home loans, mortgages and investment property debt are outside its scope. Combining personal borrowing with property-secured debt involves different risks, including risk to the property, and needs a separate discussion. This is an unsecured-personal-debt calculator.

No. HECS-HELP and student debt are not included. Australian HELP debt has its own repayment and indexation arrangements and should not be treated like ordinary unsecured personal borrowing in this calculator.

Do not add it here. Security and payout arrangements need separate consideration. Finsterl Finance handles secured vehicle and recreational finance enquiries. An unsecured personal loan used for a car is different and can be entered under Car loan (unsecured).

No. Business debts and equipment or business vehicle finance sit outside this calculator. Finsterl Finance can discuss business finance separately. Borrowing for an ABN should not be entered as an unsecured personal debt simply because you make the repayments yourself.

Contact your credit provider early to ask about financial hardship assistance. A new loan is not always the right response. Free, confidential financial counselling is available through the National Debt Helpline on 1800 007 007 or ndh.org.au. If essentials are at risk, prioritise getting support rather than rushing into more borrowing.

The National Debt Helpline provides access to free, confidential financial counselling. A financial counsellor can help you understand options and talk through debt and hardship issues. They are different from a credit broker and do not require you to take out a new loan.

A lower repayment is not useful if it still leaves you unable to cover essentials. Review realistic income and expenses, and consider contacting existing providers about hardship. A financial counsellor can help explore alternatives. The calculator does not decide whether a loan is affordable for you.

That’s Y Refi is a business name of Sterling & Co. Pty Ltd ABN 69 684 138 690, Australian Credit Licence 568199, AFCA member 116347. It is the younger, debt-consolidation-focused brand powered by Finsterl Finance, a credit broker and the same company.

No. That’s Y Refi is powered by Finsterl Finance, a credit broker. The website provides general information and an illustrative calculator. Any loan is assessed by a lender and is subject to eligibility criteria, terms, fees and charges.

Visit finsterlfinance.com.au/legal for the privacy information, credit guide, fees and complaints process. You can also contact Finsterl Finance on 1300 508 827 or info@finsterlfinance.com.au. Sterling & Co. Pty Ltd is an AFCA member, number 116347.