How WeMoney helped Aimy turn four debts into one repayment

Aimy's story at a glance

• Member: Aimy, 22 (WA), working and studying
• Before WeMoney: two credit cards and two buy now pay later accounts across Afterpay, Zip and Latitude, with each repayment leaving her less to live on
• What she consolidated: all four balances into a $15,000 loan through a lender matched in WeMoney
• How WeMoney helped: showed her matched lenders and estimated approval likelihoods in one place, then gave her a clear route through the application
• Her experience: she checked our reviews first, chose a lender a friend had used and described the application as clear
• After: one repayment of about $51 a week, with one company and one date to remember
• Next: paying the loan down

Before WeMoney

Aimy gets paid fortnightly, and before consolidating, much of that fortnight was already spoken for. She had two credit cards and buy now pay later balances with Afterpay, Zip and Latitude. Each account had its own app, due date and amount, so working out what she had left meant moving between them and doing the maths as she went.

"...left with, like, 90 bucks to survive until the next pay."

She was 22, working and studying at the same time. The balances had built up while setting up a home with her former partner, with furniture and bills going onto the cards. By her own estimate, more than half of what she was paying was going to interest. The payments left in several directions without giving her a clear sense that the balances were coming down.

How she found us

Aimy first recognised herself in a WeMoney ad. "I was like, oh, that's me." She did not download the app immediately. She went to the App Store, skipped past the five-star reviews and read the two- and three-star reviews from people who were still weighing up the experience.

Once she was comfortable that WeMoney was worth trying, she downloaded the app and decided within a week or two what she wanted to do. Her aim was specific: replace several companies and payment dates with one loan and one repayment.

How WeMoney helped

Aimy had previously been declined for a credit card, so she did not assume another application would work. WeMoney showed her the lenders she matched with and the approval likelihood displayed for each option. Some lenders showed a higher likelihood than the one she eventually chose, however she preferred the lender a friend had already used. We gave her the comparison and she made the decision using the trust signal that mattered most to her.

After she chose the $15,000 loan, the lender asked for supporting information, including a Zip statement and confirmation that the old accounts would be closed after payout. Aimy described that part of the application as "pretty good and clear". The approval and payout belonged to the lender, while WeMoney's role was to help her find the option and move into the application with the relevant information in front of her.

One old account still showed a balance after it had been paid to zero, which made closing it harder than expected. Aimy followed it up until the loose ends were tied off. That did not change the result, although it is part of the experience another member deserves to know.

After WeMoney

The four balances became one repayment of about $51 a week. More importantly for Aimy, payday stopped requiring four apps and a calculator.

"I can just remember one thing."

She now has one company, one amount and one date to keep track of. The loan still needs to be repaid, and consolidation did not make the debt disappear. It gave her a structure she found easier to manage and a clearer path towards paying it down.

See your own position first

If several repayments are taking different amounts from your pay, connecting your accounts in WeMoney can show the balances together. You can then see the consolidation options you may be eligible for and compare the estimated repayment, rate, term and fees against what you pay now before deciding whether to continue.

Aimy's figures and experience are her own. Outcomes vary by member and lender, and her story is not a promise that another person will be eligible or receive the same repayment or result.

See what one repayment could look like for you

Try the free debt consolidation calculator to compare your current repayments with one consolidated loan. To see your debts together first, download WeMoney for iOS or Android.