Consolidating Debt

Consolidating Debt

Consolidating Your Debts

Debt consolidation can be a great way of better managing your debts, to better suit both your financial situation and your lifestyle. Imagine how much simpler making your debt repayments would be if you only had to organize paying one simple repayment instead of juggling multiple bills. A debt consolidation loan will help you achieve this.

Repaying Debts at a Lower Interest Rate Saves You Money

If it suits your purpose and requirements you may be able to lock in a debt consolidation loan with fortnightly or weekly repayments. By repaying debts more frequently you can reduce the amount of interest you pay in the long run by lowering the loan amount (or principal) more often this is what the interest is calculated on for many loan products.

Debt consolidation benefits include saving hundreds if not thousands of dollars on your repayment. The reason for this is that debt consolidation loans have a lower interest rate than most credit cards, store cards and personal loans. Therefore if you consolidate your high interest debts (such as credit cards) into your debt consolidation loan at a lower rate you end up paying the debt back at a lower rate ultimately saving money over the term of the debt consolidation loan.

When you take out a debt consolidation loan you also may have the option to release some funds from your property giving you some additional funds in the short term. Please contact us today at 1300 137 778 or Enquire Now to discuss how Debt Consolidation benefits can work for you.

 

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