Saturday, January 29, 2005

Debt Consolidation Solution in Australia

It should be possible to find a debt consolidation solution to suit most financial situations.

First port of call should be a mortgage broker. If you don't have a broker you are happy with, then try the one we recommend at the bottom of the page. Most Australian mortgage brokers have access to lenders who provide a debt consolidation service and can arrange finance for you. They can look at your personal situation and recommend a solution to suit your circumstances.

If you have a bunch of high interest rate debts like store and credit cards or personal and vehicle loans there is lots of scope to consolidate these debts into a single loan with a lower interest rate.

If you have a reliable income it may be possible to incorporate all the high interest rate items into a personal loan and extend the term so that repayments are manageable.

Home owners with equity in their property have more options and may be able to withdraw some of the equity to repay the debts or include them in an extended mortgage. Once again the term can be increased to lower repayments if necessary.

The Home Loan Club (see below) have access to multiple lenders offering debt consolidation loans. Fill out the online enquiry form and see what solutions they can offer.

More info. on Debt Consolidation