Debt Consolidation in Hunters Hill
Debt consolidation can be a handy solution when you are struggling with repayments on several debts, such as your home loan, credit cards, store cards and personal loans. Debt consolidation works by combining all those debts into your home loan, which is generally the debt with the lowest interest rate. Because the interest rate is lower, and the loan term is usually longer, your monthly repayments will drop, giving you a bit of breathing space.
Remember, if you make only the minimum required repayments, you will end up paying more in interest charges over the life of the loan than if you had left your debts separate. And debt consolidation will not fix the underlying problems, so be sure to get assistance from a financial planner to rectify your financial situation.