Household debt has skyrocketed in the past 10 years, leading many people to use debt consolidation to help them take control of their finances and increase cashflow.
Are you struggling with your mortgage repayments?
Are you falling behind in your personal loan repayments?
Are you worried about losing your home?
A debt consolidation loan replaces multiple loans with one easy to manage loan. This reduces your monthly repayments and can save you hundreds of dollars each month.
At Nexia, we offer a broad range of debt solutions including debt management and mortgage refinance.
John has debts totalling $250,000, including a home loan, credit cards, and car loan.
His current total monthly repayments are $2,400.
After discussing his options with a financial planner, John decides to consolidate his debts into one personal debt-consolidation loan.
Reducing monthly repayments & interest
By consolidating his debts into one personal loan, John manages to reduce his monthly repayments to $1,700 – giving him a monthly saving of $700 or around $170 per week.
By making repayments above the required $1,700 a month, John can achieve substantial savings over the term of the loan, and will pay off the loan much faster.
