Debt Consolidation

Debt Consolidation

Close-up of a 'Rejected' Debt Consolidation Loan letter.

You may have debt that has grown over time into repayments that you can’t manage on your current income.

Roll all your Debts into One

A simple solution may seem to combine or consolidate all of these into one debt with only one repayment to manage.  Some credit card companies have offers to roll credit cards into one with a low interest introductory period. Banks and finance companies offer personal loans that will consolidate your debts into one payment.

Find out the Long Term Effect on Interest Charges

You need to know all of your options and the effects consolidating may have on the total amount you will pay over time.  Credit card statements now detail how many years you will pay and how much you will pay in interest. This is important.

Read The Small Print…

Your consolidation loan documents will also clearly show you how much extra interest you will pay including default interest conditions if in the future you also struggle with this new loan.  You need to read all of the information provided to you very carefully so that you understand the full picture of your consolidation loan.  Your financier may also want to take security over your car.

Home loans can also be extended to consolidate your debts, taking your personal loans and credit cards and adding these to your mortgage.  You will usually pay a lower interest rate but may find yourself paying these debts over 20+ years.

An Interest Free Debt Agreement

Payment consolidation is also possible through an interest-free Debt Agreement Repayment Proposal.  You also need to understand this little known option for dealing with hard to manage debts. There are conditions to be eligible for this kind of solution and you can read more here.

Find out about Debt Agreements.

 

 

 

Enquire Now

  1. Do you have a house or car that needs protection from debt collectors?
  2. Do you have unsecured debts of more than $10,000?
  3. Is your gross income less than $108,000?
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We can help you

You can call us now on

1800 085 550

Active Debt Specialists is based in WA, successfully providing debt solutions to individuals and businesses since 1998. We help thousands of Western Australians to resolve their debt, keep their family homes, continue operating small businesses and eliminate financial stress.

Or We can call you

Unfortunately, we are unable to assist you.

For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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Unfortunately, we are unable to assist you at this time.

Please contact us for assistance once you have secured a regular income.

We look forward to your call.

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Unfortunately, we are unable to assist you.

You need to have over $7,000 in unsecured debt to apply.
For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.