Consolidating debt australia

If you find that your repayments are spiralling out of control, debt consolidation could be for you.

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Essentially, it can give you a way to reduce your interest rates and fees, thereby giving you a way to get yourself out of debt.

If you choose to consolidate your debt, you'll have one loan repayment to worry about rather than several.

We don’t report your enquiry to your credit file, so call today at 1300 138 188 or Enquire Now!

Debt consolidation allows you to combine all your loans into one.

After six months, Collin owed a total of $254,000, his outgoing repayments stood at $3,500 per month and he risked losing his home and car.

He and his wife's joint income was not enough to cover it all.

As a freelancer he had no leave or other benefits to rely on.

During this six-month period his family’s debt increased considerably as they could only rely on his wife's salary, who worked part-time.

Choose the term of the new loan with care, because while longer terms could result in lower repayments, you could end up paying more in the form of interest.

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