Why it makes sense for you to consolidate your debt:
- One easy affordable payment. Trying to manage multiple payments, in line with your pay day, can lead to dishonour fees and missed payments, which may affect your credit history. Managing one fortnightly or monthly repayment can make it much easier to stay on top of your debt and to keep a track of your repayments.
- Save on interest and ongoing fees. With many loans or credit cards comes a variety of fees and interest rates. Consolidating your debt into one fixed, low rate loan will mean that you only have one interest rate and a lot less ongoing fees to cope with.
- Term of loan to suit you. Bring those payments right down by choosing a term that suits you. This will allow you to have additional spending money to enjoy your life now, without the worry of putting money aside for numerous payments.