consolidation loans

Types of Consolidation Loans

Many Australians borrow money for various reasons, and believe it or not, debt is becoming a normal part of life. And, so is struggling to pay debts. Many borrowers juggle from one payment to another and sometimes, being in default status is becoming normal for some people.

Debt consolidation is one of the most effective ways for borrowers to protect their credit and manage their debt. With debt consolidation, you make one monthly payment for all your loans-and it is usually lower than the total monthly payments of all your existing loans. But which type of debt consolidation loan options can help you?

Unsecured loan

If you have a good credit, banks and other financing agencies would be willing to grant you unsecured loans to consolidate your numerous debts into a loan with a monthly payment. They usually offer lower interest rates compared to the overall interests of your existing loans. A good example is a personal loan. However, if you have bad credit, your chances of getting unsecured loans are limited.

But, don’t worry. We offer personal loans to help you consolidate your debts, regardless of your credit rating. You can avail of our fast, convenient and flexible personal loans so you will have enough money to meet your personal situation.

Secured loans

If you have a savings account, a home or any valuable property, the bank or a lender may allow you to borrow against the value of the said assets to consolidate several debts into a single loan. We allow you to use the equity you build in your property to consolidate your debt, buy another property, refinance and use it anyway you like even if you have poor or bad credit.

Debt consolidation loans

It easy to manage your debt into a neat payment package, using a financial solution that best meets your unique needs and that helps you consolidate debt to get your finances back on track. So, if you have an existing car loan, mortgage, credit card debts and other loans, you can easily roll them into an easy repayment package. It doesn’t matter if you have poor or bad credit, and if you have minimum documentation, we specialize in consolidating debts of people with poor and bad credit situation.

Final thoughts

There are many types of debt consolidation loans to choose from, but they have the same goal: to simplify your debt payment so you can easily repay your financial obligations.  Choose the right option that can help you pay off your outstanding debts, spare you extra cash for your savings and leave a breather to your monthly budget.

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