Debt Consolidation

Debt Consolidation

Currently managing a number of loans, credit cards and other debts? With multiple repayments, often due on different dates and at differing interest rates and with different fees, it can be easy to get overwhelmed and feel like you are never going to be able to get your head above water. For many of our clients we find at a debt consolidation loan can help them get on top of everything.

We get it. Debt can add up quickly. You might buy a new computer and then the hot water system breaks. You might want to go on a holiday but then the car breaks down. Sometimes you just throw things on the credit card but then other bills come in. You might have multiple cards each with different due dates. We get that all of your purchases were justified but it’s time to get it all back under control. It’s time to simplify your debt repayments.

Here are some of the benefits of a debt consolidation loan and why you might consider applying for such a loan.

ONE REPAYMENT EACH MONTH – Instead of having multiple repayments, one for the credit cards, one for your personal loan, one for your car and any other of a number of loans and debts you might have, you’ll only have one repayment each month to make if you get a debt consolidation loan. This will make your own personal cash flow management easier. You’ll know how many payments that you have to make and you’ll know when you have to make this payment.

HELP SAVE YOU MONEY – The problems with multiple debts is that, even as you are making your payments, the debt you have may still be increasing. Each of the debts that you might have individually will probably come with a number of associated fees as well as their different interest rates. Some of these interest rates may be incredibly high. If you combine all these debts into one loan you can reduce the interest rate and save money by paying less fees.

GOAL SETTING – You can be debt free with a debt consolidation loan and the right budgeting in place. With one repayment and a loan with a clear end date after all your repayments are made., you’ll be able to set future financial goals and see light at the end of the tunnel (and that light won’t be a debt train coming to run you down.) You can look towards your future with more confidence.