Consolidating Debt? Contact Cashify!
Debt is nothing to be ashamed of. These days many Australians just like you are struggling to make ends meet. With events over the last few years, many people have faced financial hardship through loss of employment, irregular work, and the massive increase in the cost of living. Australian household debt has been increasing since the 1980s, with the average individual owing more than $100,000. If this sounds like you, debt consolidation and refinancing might be a smart move.
Unless you are paying zero percent interest on your debts, it’s a wise idea to shop around. The first step is to work out how much you owe and what percentage of interest you are paying. Credit cards tend to attract the highest rates of interest, so it’s a good idea to not spend more than you can comfortably pay off each month. If you are struggling to pay your cards off in full every month, you should be looking at consolidating debt.
Another trap you should definitely avoid is paying only the minimum amount monthly on credit cards, as this means the total can add up significantly. Some credit cards offer a zero percent interest rate on balance transfers, which can be another savvy way to reduce the total amount of money you pay in interest and charges. The key though is not to spend on the zero percent card until your original debt has been paid, and not to run up significant debt on your other cards. However, if your credit rating is poor, you may struggle to be approved for one of these cards.
If you consolidate your debts, you pool all the debts together and take out a loan to pay off all your creditors. It can end up far cheaper to do this rather than continually pay each individually. Consolidating debt means you will only have one monthly payment to budget for, and this might be lower than all of the other minimum payments you had to make.
Do You Need to Find an Expert in Debt Consolidation Loans?
If you currently have a number of different debts which you are in the process of paying off, there may be good reasons for you to consider taking out a debt consolidation loan in Australia. Australia has many lenders providing this kind of short term loan, but not all borrowers are fully aware of what debt consolidation involves and why it can often prove to be a very shrewd financial decision.
Loans for debt consolidation allow you to combine all your existing debts into one single small loan, and there are several benefits associated with doing this. Of course, the most obvious benefit is enjoying more streamlined finances, with fewer payments to worry about and a reduced risk of you accidentally missing a payment and negatively affecting your credit score.
But one of the most significant potential benefits of debt consolidation is the fact that if your credit score has improved since you took out your original loans, it is often possible to obtain lower interest rates on a debt consolidation loan and save yourself money.
What are Debt Consolidation Loans?
Do you struggle to keep track of all your loans and repayments each month? Is the list of student loans, medical loans and credit card payments getting too long to remember? Debt has a tendency to stack up like that. So do the interest rates of each loan. Wouldn’t it be easier to have a single loan repayment to do and then be able to forget about it? How much money would you save on interest rates if that was the case? By obtaining a consolidating loan for debts, you can actually achieve that. A debt consolidation loan involves merging together all existing loans and credit commitments into one loan. This means you only have one loan to pay off and your interest rate is usually lower because of it. You can save hundreds or thousands of dollars each year with a debt consolidation loan, and you only have to remember to pay one bill at the end of each month.
Should You Get a Debt Consolidation Loan in Australia?
Should you be considering a debt consolidation loan in Australia? Like all loans, this solution isn’t one that will work in all situations, so you’re right to be thinking about what’s best for your unique circumstances. To help you out, here are some common situations where debt consolidation loans might be useful for you.
- Your interest rates are currently high
- You struggle to keep organised with your repayments of various loans
- You want a streamlined solution and finances that are easier to deal with
- The loan would mean you’d be able to pay less in interest
- You’re financially secure enough that you can keep up with the repayments of your consolidation loan
Does that sound like you? A debt consolidation loan might be the perfect solution for you! However, there are also some circumstances where such a loan wouldn’t make sense.
- You wouldn’t be able to afford the payments
- You wouldn’t be able to or aren’t planning to clear your debts and credit commitments with the loan
- You would end up paying more overall, because of fees, a higher interest rate or a longer repayment period
At Cashify, you don’t have to worry about committing to a loan that isn’t right for you. We assess your unique financial circumstances to find the best solution for your finances. Not only that, but we give personalised advice and recommendations to all of those we have to reject, helping them sort out their finances and bettering their chances when applying for loans in the future. That’s part of what makes our debt consolidation loan some of the best in Australia.
Get the Most Competitive Debt Consolidation Loans Australia Has to Offer at Cashify
Here at Cashify, we pride ourselves on providing some of the very best debt consolidation loans Australia has to offer. We have many years of experience in the industry, but we remain a fully Australian family owned and operated company committed to the same principles of value and customer service upon which we were founded.
To apply for one of our loans for debt consolidation, all you need to do is use the online application form to tell us about yourself and your financial situation. There is minimal documentation required during the swift and straightforward process, and our team will conduct a thorough assessment of your individual circumstances in order to determine the right financial solution for you. If we are unable to accept your application, we will always provide plenty of helpful advice and guidance to give you the best chance possible of having future applications accepted.
Flexible Debt Consolidation Loans in Australia
Our personal loans for debt consolidation are flexible enough to suit all circumstances. Choose between loan terms ranging from 3 to 84 months and choose how often you want to make payments. Lend between $2,000 and $50,000 and make extra repayments and exit early at no additional cost if your financial circumstances change and you want to pay off your loan faster.
Who Can Apply for a Loan for Debt Consolidation?
Australian Debt consolidation loan applications are open to everyone as long as you are an Australian citizen or permanent resident, are over the age of 18, and are currently in employment. All our fast cash loans are between $2,000 and $50,000, and various repayment options are available to suit your personal needs and preferences.
Cashify Offers Debt Consolidation and Refinancing
With Cashify, debt consolidation couldn’t be easier. Use our online tool to see an illustration of how much monthly repayments could be for the sum you wish to borrow. If your budget can’t stretch to that, increase the length of time of the loan. We offer up to 48 months for you to repay the amount in full. Contact Cashify today – your 100% Australian-owned and run debt consolidation and refinancing provider.
Apply for a Personal Loan for Debt Consolidation Now or Contact Us to Learn More
When you are ready to begin the process of turning your existing debts into a single consolidation loan with Cashify, simply complete your online application and you will hear back from a member of our team very shortly. Or if you would like to speak to a member of staff to discuss your various options and find out more information about who we are and what we do, do not hesitate to get in touch via telephone, email or using the online form on our contact page. We will be more than happy to answer your questions and provide personalised advice.