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Debt Loan: Strategies to Reduce Loan Repayments.

After consulting your financial advisor you may find that a debt consolidation strategy is the key to reducing your loan repayments.

It is not however a way to increase your consume debt to levels you cannot afford.

Debt consolidation is a great strategy, but the fact is most of the it is needed because clients cannot manage their finances properly. Therefore, for debt consolidation to work effectively and credibly within the new regulated financial services environment, it should be monitored by your financial advisor.

Managing Debt

If you have multiple debts such as

Your financial advisor will  help you. Please call the office for assistance with budgeting, assessing your home loan options or restructuring your debt, or reviewing your financial affairs. Together we can plan your financial future. may find that a debt consolidation strategy is the key to reducing your loan repayments.

Debt consolidation is the action of replacing multiple debts with a single debt in a vehicle that offers a lower interest rate. This will simplify your finances by having only one repayment to make instead of multiple repayments with different due dates. This will have the added benefit of minimising late payment fees, if you have had trouble keeping on top of these multiple payment dates.

It should also reduce your interest payments if you consolidate into a loan product with a lower interest rate – not difficult with store cards charging up to 20%pa. You can consolidate your debts into a personal loan or even your home loan. You may even choose to take the savings you have just made consolidating your debts and pay them into your mortgage, paying off this loan even sooner.

Top Ten ways to reduce home loan repayments ...

Read the full article on Debt Loan - Strategies to Reduce Loan Repayments to take advantage of the many changes in the financial services industry.

Debt Loan: Strategies to Reduce Loan Repayments

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