Loan Direct Urges Borrowers to Review Existing Loans as Cost Pressures Peak Ahead of Christmas
With Christmas fast approaching and household costs continuing to climb, Loan Direct says now is the time for borrowers to review their finances and consider how restructuring existing loans could help ease financial pressure - without necessarily taking on more debt.
Drawing on years of experience helping thousands of borrowers nationwide, Corby Price, of Loan Direct, says many New Zealanders initially seek a loan because they’re struggling to keep up with day-to-day expenses.
“For many people finding their finances tough right now, is often not their spending habits - it’s usually regular people living their lives, but the average cost of everything has increased a lot” Price explains. “They’re doing their best to manage existing commitments, but when an unexpected bill or repair comes up, that’s what pushes them over the tipping point.”
Debt Stress Rising Across New Zealand
The latest Centrix Credit Indicator Report (August 2025) shows that almost one in ten people with personal loans are currently behind on repayments. Across all types of consumer credit, more than 480,000 New Zealanders are overdue on at least one account - representing 12.4 percent of the country’s credit-active population.
“Those figures tell us what we’re already seeing,” says Price. “Financial stress is real. But what many borrowers don’t realise is that the solution often isn’t borrowing more - it’s restructuring what they already have.”
The Power of a Smarter Loan Structure
Loan Direct specialises in helping clients consolidate loans - combining multiple debts into one manageable repayment. Price says that for many borrowers, this simple change can create a much-needed buffer in their weekly budget.
“By lowering repayments and restructuring the loan, we’re often able to free up between $100 and $400 a week,” he says. “That’s roughly $400 to $1,600 a month - and over three months, that can mean an extra $1,200 to $4,800 in available cashflow. For many households, that’s the difference between struggling and breathing again.”
This approach also allows some clients to access additional funds to cover upcoming expenses - such as school fees, holiday travel, and festive costs - without the burden of multiple loan accounts and overlapping repayments.
“Sometimes we can help people tidy up their existing debt while still giving them a little extra to handle life’s surprises,” Price says. “It’s about balance - making sure what they’re paying is fair and sustainable for the amount they’ve already borrowed.”
Free Loan Assessments Help Identify Hidden Opportunities
Price encourages anyone feeling the squeeze to take advantage of Loan Direct’s free loan assessment, which can identify opportunities to reduce repayments or restructure existing debt.
“It doesn’t cost anything to find out,” he says. “And even small improvements to how your loan is structured can make a big difference, especially with Christmas around the corner when expenses are at their peak.”
Financial Breathing Room Before the Holidays
As festive costs - from travel and gifts to food and family gatherings - begin to stack up, Loan Direct says acting early is key.
“We see it every year - people wait until December when the pressure’s already there,” Price adds. “But by reviewing your loans now, you could lower repayments, create some breathing room, and enjoy the season without the financial stress.”
With savings of up to $400 a week in some cases, Price says many clients are surprised by how much more manageable their finances feel once their loans are consolidated and simplified.
“Our message is simple,” he says. “Don’t wait until things are overwhelming. The sooner you take a look at your loan structure, the more options you’ll have - and the better you’ll feel heading into summer.”