Debt Consolidation tips
Debt consolidation has the potential to save you hundreds, possibly thousands, of dollars if it’s done correctly. But there are potential pitfalls to avoid. Follow our tips to maximise your savings:
- Take the time to choose the method of consolidating debt that is best suited to your budget and apply to pay off the debt.
- There is an extensive choice of loan options or balance transfer deals that can help you save money. Seek the help of a expert, like an Aussie Broker, to help make it easy to cut through the clutter to secure the best deal.
- Debt consolidation is most effective if you take a disciplined approach to repaying the new debt. Avoid the temptation to reload your old credit card with new purchases once it has been paid out.
- Using a home loan to consolidate debt could turn a short term debt into a long term one. Making extra repayments will boost your interest savings and see you debt-free sooner.
- Unless you stick to a spending budget, you could simply end up accumulating more debt again.
Aussie Brokers have extensive experience with debt consolidation, and can analyse your circumstances and needs to guide you through the process. There’s no obligation when meeting with an Aussie Broker and their service is completely free.
Book your free appointment with an Aussie Broker online now, or call us on 1300 44 55 66.
## Rates valid as of 08/10/13 and are subject to change or we may introduce new ones in the future. Approved customers only. All applications are subject to lending and approval criteria. Terms, conditions, fees and charges apply. Interest rate offered will depend on our assessment criteria.
** The comparison rate is based on an unsecured personal loan of $30,000 over 5 yrs. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Any information is general and not based on any consideration of your objectives, financial situation or needs.