Debt Consolidation Loans
Are you juggling payments on multiple loans? Each with their own interest rates, loan term, conditions and balances? Well, it may be time to think about consolidating your debts.
Debt consolidation is when you combined all your existing debts into one simple new debt, with one interest rate and one regular payment. By doing this, you can focus on paying it off as quickly as possible without the hassle of remembering all your repayment dates.
With the help from our network of brokers, we can make the whole debt thing less stressful. And, with access to over 50 lenders, including major banks and non-bank lenders, we can offer your more loan options.
What is debt consolidation?
Debt consolidation is rolling multiple loans into a single loan with one regular repayment. Consolidating debt can make your life easier, as well as give you the chance to lower your interest payments and avoid penalties for any missed payments.
How many debts can I consolidate?
You can consolidate as many debts as you want to with a debt consolidation loan, as long as these are covered by a lenders maximum loan amount. Each borrower’s loan limit will be based on their individual circumstances and their selected lenders loan requirements.
What is the difference between debt consolidation and refinancing?
Debt consolidation and refinancing are very similar. In both cases, existing debts are transferred into a new debt so that borrower can take advantage of things like a better interest rate, lower repayments or a more flexible loan term.
However, when referring to refinancing, this usually only involves one debt, such as a home loan. Whereas debt consolidation refers to multiple loans such as a personal loan, credit card, car loan, etc, being rolled into one new debt.
Chat to us today about your debt consolidation needs
If you would like more information on debt consolidation loans and how our network of brokers can help you, contact us today!