We have the solution.
Debt consolidation works by combining ALL your debts into one new loan. It’s as easy as that. By consolidating your credit cards and personal loans and any other bills together, you could save thousands.
Debt consolidation example:
Before:
| Type of asset / liability |
Owing |
Monthly Repayments |
| Mortgage |
$112,000 |
$863.00 |
| Personal loan |
$17,700 |
$401.00 |
| Personal loan |
$12,000 |
$272.00 |
| Personal loan |
$4,500 |
$102.00 |
| Credit card |
$8,800 |
$264.00 |
| Credit card |
$7,300 |
$219.00 |
| Total Monthly Repayments: |
$2,121.00 |
|
After Debt Consolidating:
| The NEW monthly repayment: |
$1,154.00 |
| Monthly savings: |
$967.00 |
| Yearly Savings: |
$11,604.00 |
|
Peter’s story
Working fulltime on a great income, I found I was always in control of my debts. That is, until my employer reduced my hours which made it almost impossible for me to keep on top of my monthly payments. I thought it would be easy to use one of my credit cards to help me pay off some of the bills. Soon after, I realised my credit cards were maxed out but the bills kept coming in. And then the phone calls started.
I realised then that I needed help fast. Being three months behind on my credit cards and behind on my mortgage repayments, the last thing I wanted to happen was lose my home and my family.
That’s when I decided to search for help online. I found Australian Lending Centre and after filling out the online application form, I received a call from Helen. I explained my situation to her and after some simple calculations she showed me how to reduce my monthly repayments through their debt consolidation product.
Consolidating my numerous debts into one simple easy payment with a lower interest rate, gave me the opportunity to get out of my money rut. I'm now back on track.
