Debt Consolidation Perth
Making monthly repayments simple and stress-free
If you’re struggling to stay on top your debts with multiple monthly repayments, debt restructuring or consolidation can help make your life just that little bit simpler.
What is debt consolidation?
Debt consolidation brings all your loans and existing debts together into a new, single loan often by taking out a new personal loan to repay your existing debts. Which means you’re left with just one repayment over one set term, helping you manage your repayments and take control of your finances.
Besides making life easier and your repayments more manageable, debt consolidation has the potential to save you money if you get a lower interest rate than you had on your initial debts.
Ways to consolidate your debt
Although taking out a new personal loan is a common way to consolidate your debts, there are other options like refinancing <link to page 2.4> your home to consolidate debt. All of these options have pros and cons. So deciding on which option is best for you will depend on your circumstances.
For example, consolidating your existing debts into a home loan means you get lower rates and the option to redraw funds in an emergency. But it could cost you more in the long run if you’ve consolidated a short term loan into the longer term of the home loan.
Why Westend Finance for debt consolidation Perth?
For more than ten years I’ve been helping people to restructure or consolidate their loans, making sure they choose the best option for their circumstances. I will guide you through the advantages and possible pitfalls so that your debt consolidation works in your favour and doesn’t leave you in a worse financial position than you are in now.