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DEBT CONSOLIDATION

You don't need to own property to be able to consolidate your loans.

Consolidating loans with your existing mortgage is very effective if you owe large amount of money on your credit cards, personal loans, car loans, etc. See the Example-1 on our home page.

Bankruptcy Options

Find more about bankruptcy at www.bankruptcyoptions.com.au

Debt consolidation is a viable way to get a grip on your finances before you are buried helplessly below too great a load of debt. Instead of making numerous payments each month to a long list of impatient credit card companies and personal loan holders, you make one single payment to the holder of your consolidated loan. You no longer have to deal with creditor pressure and those annoying phone calls at home and at work. Even better, your one monthly payment will be lower than the total of all the other monthly bills you were trying to juggle, and usually the interest rate will also be decreased. Late fees, default penalties, and ever-increasing interest rates will be eliminated.

Debt consolidation loans have helped hundreds of thousands of Australians to regain control of their finances. However, it is important that you seek this recourse before you start drowning in debt. To be eligible for this option, you must be employed and have a good credit record and timely payment history. You cannot have filed for bankruptcy within the last 10 years, and you cannot be in default on any loan payments.

Consolidation loans may be offered at variable or fixed rates. A variable rate allows you to make extra payments during the course of the loan period without penalties. A fixed-payment rate limits you to the number of payments made during the established time period. Debt loans can be secured for as little as 12 months or as long as seven years. Payments can usually be made weekly, fortnightly, or monthly.

If your monthly payments are becoming too difficult to manage and you are concerned about your ability to keep meeting them on time, a debt consolidation loan could be the answer to your problems. Maybe it is time to take steps to regain control of your personal finances so that you can finally start to breathe again.

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