Debt consolidation is the process of folding (or “consolidating”) a number of different debts into a single loan, often with a lower overall interest rate. It can be an effective option if you’re juggling multiple debts such as personal loans, car loans and credit cards. By consolidating your debts you may only have to make and manage one monthly repayment (instead of multiple), and you may only be dealing with one lender and one set of loan statements.
The biggest advantage of debt consolidation is the potential for significant savings on your monthly repayments and overall interest charges. Many people choose to use their home loan for debt consolidation as it offers a very low interest rate, however there are other options available including low rate unsecured personal loans, secured loans or a credit card balance transfers.
Exceptional and outstanding service in obtaining our new loan. I would highly recommend Jesse Medwin and his team at Vie Financial with any of your financial needs. Top quality and extremely efficient - Jesse always kept us in the loop every step of the way.View More Vie Stories