DEBT CONSOLIDATION

The Truth about Debt Consolidation

Debt consolidation helps you manage your cash flow especially if you tend to have the habit of overspending and have a lot of debts. Typically repaying debts would be difficult as you may not have any savings, so this where debt consolidation comes in.

Things to note on Debt Consolidation

The information above may be true but the purpose of debt consolidation is to help the clients manage their cash flow at present. These are the people with bad spending habits and have a lot of debts. paying off their debt is the first option but due to lack of savings this is not possible. This is where debt consolidation came to the rescue. debt consolidation has helped  a lot of clients get their first property.

Debt consolidation may extend the time of payments yes but the purpose of debt consolidation is to minimize the clients' monthly repayments and help them to buy a house. I will send you a link as reference. for this one. or we can talk to further discuss.

When we consolidate it has to be at a lower interest rate otherwise not good to consolidate. 

Consolidation of debts will help clients manage their repayments better. Rather than having loans in 7 different providers: banks, credit cards etc. consolidation of loans to one provider only will help them manage their cash flow better.  easy to monitor outgoings.

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"Indeed it was a dream come true"

Myra has helped me a lot to buy our first home. At first, it was really difficult, as I have a lot of debts and unable to save money. With the advice of Myra, she helped me with the debt consolidation of all my loans, she helped me to manage my finances and teach me the importance of saving. It was a big help, she’s always there to answer my questions. And I am very happy that finally we are now building our dream house. Indeed it was a dream come true. Thanks to Myra.

Blade Lazo, 43

Aircraft Engineer

Here's an example of how we can help in achieving your goal.

Customer

Goal: Consolidate their debt into one repayment. Our customer had tried other lenders but nobody would cover this amount.

Current debt: Personal loans with Heartland bank and Finance Now, vehicle loan with MARAC

$1,675 = Current minimum monthly repayments

Results

$48,000 personal loan approved by lender

13.90% p.a. secured interest rate

$1,037 = New minimum monthly repayments

Customer goal = to have their debt repaid within 3 years.
Current debt = bank overdraft, credit cards with Gem visa and Q Card, and personal loans with Avanti and Finance Now

How we helped

  • $35,500 personal loan approved by lender over a 3 year term.

  • 12.90% p.a. unsecured interest rate.

  • We also reduced their monthly repayment - so they'll pay it off quicker and pay less overall.

Previous minimum monthly repayment

was

$1,380

New minimum monthly repayment 

now

$1,194