Personal Loans for Debt Consolidation
Need debt help? Want to consolidate credit cards into a personal loan?
If you are up to your neck in debt, a debt consolidation personal loan may be a way of finding the light at the end of the tunnel. If you consolidate debt into one monthly payment, it will be easier to cope with – and you may benefit from much better interest rates too.
What is debt consolidation?
Debt consolidation personal loans are when you combine all your debt into one loan. Debt may include credit card debt, store card debt and personal loan debt. Loan consolidation means you only have to deal with one outgoing payment each month – much easier! It also means combining all the fees and interest rates you pay into one. So consolidation loans often mean you pay lower overall rates and fees too.
Is loan consolidation right for me?
That depends – if you are finding it a strain to keep up with your monthly payments, you might find it useful to consider one of the many debt consolidation loans Australia has to offer. Debt can be a serious burden on your life, but it might not be as bad as you think. For great offers on both secured and unsecured personal loans for debt consolidation, make the most of Finance Monster’s free service today!
Good and bad debt personal loans
Before making any decision about taking out a debt consolidation personal loan, you need to know the difference between good and bad debt. “Good debt” or “good credit” refers to secured loans such as home loans – they are called “good” because they attract low interest rates. “Bad debt” or “bad credit” refers to credit cards, store cards and high interest personal loans – because this type of borrowing attracts higher interest rates.
In order to achieve optimum debt management, the more good credit you have the better – because this will mean you end up paying less interest back. Finance Monster compares rates and fees of all types of debt consolidation personal loans across Australia for you.
Debt consolidation Australia
With more and more Australians struggling with debt, many are considering using debt loans.
Our Best Personal Loan Rate
AVAILABLE FOR VERY LIMITED TIME
*The comparison rate is based on a loan of $25,000 for a term of 5 years. WARNING. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
Here’s how it works:
Many Australians have fallen into the trap of saying yes to several different types of loan. This means they have borrowed credit from several places such as clothing chains in the form of store cards, and financial institutions in the form of credit cards and personal loans. They then end up having to pay lots of different interest rates and charges.
Taking out a consolidation loan is one way of alleviating the issue of multiple fees and interest rates into one manageable monthly payment. Finance Monster aims to provide debt help Australia by comparing dozens of consolidate loans from banks throughout the country. We’ll look at your personal circumstances and do our utmost to find the ideal consolidate loan for you.
What to think about – debt consolidation
Many Australians choose to consolidate debt loans, but that doesn’t mean it is the right solution for everyone. The questions to ask before choosing personal loan consolidation are:
• Am I finding it hard to keep up with monthly debt repayments?
Debt consolidation is a great way of reducing monthly payments down to one payment, making your debt easier to manage. It is particularly useful if you are about to reach your card limit, or have already reached it.
• Has my low-interest credit card got credit left?
It may be possible to transfer some of your debt to a credit card which has 0% interest for a certain period. Call Finance Monster to find out more.
• Do I have equity in my home?
Consolidating your debt to your home loan can be a great solution if you are struggling, since home loans attract a great deal less interest than personal loans and credit cards.
Finance Monster – consolidation loans Australia
Finance Monster is a professional finance broker. We compare all types of loan from hundreds of banks and other financial institutions throughout Australia. When you get in touch, we will look at your personal circumstances and do what we can to seek out low interest personal loans for debt consolidation.
Best rate personal loans – debt-consolidation
Because Finance Monster has great links with dozens of banks and financial institutions, we have the knowhow and bargaining power to get you better rates on debt consolidation personal loans. Is personal loans debt consolidation the right thing for you? Find out by talking to our money experts today.
Why use a broker for personal loan debt consolidation?
If you are looking for debt help, using our loans comparison service is one of the most useful things you can do. We have the ability to search through hundreds of different personal loans for debt consolidation, including secured and unsecured debt consolidation loans. If you go it alone and try to find a good deal yourself, or simply ask your bank what they can offer you, it is unlikely you will find the best personal loans for debt consolidation. To pinpoint the best personal loan for debt consolidation, it makes more sense to widen your net and consider as many options as possible.
Call us now!
If you are interested in getting a personal loan to consolidate debt, get in touch today. Stop paying credit card interest, you can’t afford not to!