What is debt consolidation? How can a debt consolidation loan help me?

 

Debt consolidation is the process of taking two or more loans or debts and combining them into a single loan (a 'debt consolidation loan') that can help you to save money by reducing the amount of interest you pay, reduce repayment periods and improve personal cash-flow. Debt consolidation also makes your life a little easier by giving you one easy-to-manage repayment. A debt consolidation loan can pay off your credit card debt, personal loans and even your home loan, and provides you with greater financial freedom. Contact the Australian Lending Centre right away to learn about your options for a debt consolidation loan.

 

So it’s as easy as that - by consolidating your credit card debts and personal loans along with any other bills together, you could save thousands in interest.

 

How often do I need to make repayments on a debt consolidation loan?

 

You can choose to make repayments on your debt consolidation loan either weekly, fortnightly or monthly. We can help you select a suitable loan length which meets your repayment needs.

 

You may be able to choose between a few months to 7 years depending on the purpose of the loan and the amount you wish to borrow. However, many people choose a debt consolidation loan that allows them to refinance their mortgage in order to lower the interest rate - we can help you with refinancing your motgage if this is desired.

 

  

 

Debt Consolidation Examples - How Debt Help from the Australian Lending Centre Can Save You Money:

 

Before Debt Consolidation Loan:

 

Type of asset / liability to consolidate Owing Monthly Repayments Mortgage debt $112,000 $863.00 Personal loan debt $17,700 $401.00 Personal loan debt $12,000 $272.00 Personal loan debt $4,500 $102.00 Credit card debt $8,800 $264.00 Credit card debt $7,300 $219.00 Total Monthly Repayments on debt: $2,121.00

 

After Debt Consolidating:

 

The NEW monthly repayment: $1,154.00 Monthly savings with debt consolidation loan: $967.00 Yearly Savings with debt consolidation loan: $11,604.00

 

Peter’s Story - Getting out of Debt with a Debt Consolidation Loan:

 

"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 debt help fast. Being three months behind on my credit card debt 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 debt 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 easy payment with a lower interest rate gave me the opportunity to get out of my debt rut. I'm now back on track and out of credit card debt."

 

Gerry's Story - Getting out of Debt with a Debt Consolidation Loan:

 

"It was very easy at the age of 18 to get my first credit card. It was even easier to fall hard into serious credit card debt. I had a healthy income at the time so I went out and applied for another credit card to pay off the first... and then another credit card. Soon I had so much credit card debt that I was in desperate need of some debt help so I looked for a debt consolidation loan. That's when I contacted the Australian Lending Centre - as credit card consolidation experts, they provided a debt consolidation loan with a low interest rate that allowed me to get ahead and straighten out my debt."

 

We can provide the following debt help and debt consolidation services:

 

Debt Consolidation	Refinancing
Debt Management	Business & Commercial Loans
Second Mortgages	Self Employed Loans
Specialist Loans	Low Doc & No Doc Loans
Credit Impaired Loans	Short Term Loans & Cash Advances
Fresh Start Loans	Home Loans
Debt Consolidation Mortgage Refinance	Renovation Home Loans
Personal Loans	Debt Consolidation Loans
Debt Agreement	Debt Consolidation Interest Rates
Debt Consolidation Brochures	Debt Consolidation Forms