If you are holding multiple credit cards, personal loans or
car loans with a higher monthly repayment or a short term loan with higher interest
rate and repayments, we can assist you to consolidate your debts into one
personal loan or mortgage.
Let's face it, we all have a different reason for wanting to consolidate our
debts, the one thing we all have in common is the knowledge of the fact that
debt consolidation loans are the best way to relieve financial pressure
whatever the reason for the decision to consolidate.
For Example, below are different reasons people come to us
for debt consolidation;
Get your debt paid off in the end and escape the debt wheel.
- · If
you are consolidating multiple credit cards into a personal loan style
debt consolidation loan that means you are getting the benefit of
paying off your debt over a certain period of time (e.g. 3 - 7 years)
rather than repaying the interest and principal over a 30 year period
as can often be the case with paying the minimum repayment using credit
card debt. This can save thousands in repayments. The way this
is actually achieved is generally by obtaining a lower interest rate
personal loan that your credit card, so the extra money you may have been
paying in interest is now used to pay off the principal amount of debt
over a period of time.
- · If
you are consolidating a personal loan or a car loan, actually you are refinancing
your debt to a extended period of time to lower down your repayment. The
benefit is you will free up some cash to manage your regular expense.
- · Short
term loans basically involve higher amount of monthly commitment for a
short period of time. The higher interest for the loan is also another
reason for extra monthly repayments. Consolidating sort term loans can
make your life easy with a lower monthly repayment and better rate..
your borrowing capacity before applying for personal home loans or other necessary debt. It's common
for people who have made purchased many years ago of car's with original
loan amounts of $30,000 upwards to be paying monthly repayments of $1000
or more per month, however may only owe say less than $10,000. When
applying for a Home loan, the chances are, if your income is not
substantial for both yourself and partner or if you are single, the bank
may decline you for the Home loan, since your current monthly commitments
are too high, even though the car may be due to be repaid over the next 8
Solution: By re-amortizing the loan over a
longer period (e.g. 3 Years, the monthly repayments of $1,000 per month can be
reduced to approximately $254 per month. This gives you the ability to
use the extra $746 per month saved towards the home loan, therefore you will be
more likely to meet the "Serviceability requirements" when your home
loan is being assessed. The great news is, that we also have a mortgage
side to our business with over 36 lenders, therefore we are a one stop shop who
can help you strategies your current debts in order to meet the banks lending
criteria in the end.
anyone is interested for collecting the info about this service then he/she
should visit to-: www.personalloanscarloans.com.au