Sometimes things are out of your control. Stabilise your finances and get back to living your life by consolidating your debts with Positive Solutions Finance
Affordable, Fast Debt Solutions for You in Sydney
Australia relies heavily on credit and as such, it’s common that at one stage or another, a lot of us experience situations of debt. Whether you’re facing credit card debt, mortgage repayments, car loans or all of the above, we can assist.
At Positive Solutions Finance, we understand the cause of financial difficulties may be beyond your control. Many things can result in financial woes, including:
- Drowning in credit card debt,
- Business failure resulting in owning money to suppliers,
- Threatened with legal action and large fees,
- Family issues (end of marriage, sickness of family member, unemployment),
- High interest rates for other loans,
- Hospital bills or long term illness, or
- Unmanageable personal loans.
If you’re facing unmanageable debt, the actions of not fixing the problem straight away can be devastating. Creditors can threaten to take you to court and reposes your assets and the ATO may garnish your wages. In this case, doing nothing is not an option. Don’t allow this to happen to you. It’s important to act fast and take control of your finances. Let Positive Solutions Finance help you resolve your debt situation.
What is a Debt Consolidation Loan and are there Benefits?
A debt consolidation loan is used to combine multiple debts into a single, affordable loan. Instead of numerous payments with numerous interest rates and fees, you just have one recurring monthly payment with one interest rate. Debt consolidation doesn’t eliminate your debt, but it does make your debt easier to manage and potentially lower your total interest on repayments. A debt consolidation loan in Sydney allows you to:
- Take control of your finances. Making the choice to reduce debt is a big step towards financial freedom. Whether it’s cutting up the credit cards or increasing repayments, every bit counts.
- Simplify your repayments. No more juggling numerous interest rates and repayment schedules. Debt consolidation simplifies this into one interest rate, one repayment schedule and one creditor.
- Less stress, more living. If you have a good credit history, you may qualify for a lower interest rate. This frees up more cash for the things you want to do – not having to pay the bills.
How Much Could You Save with Debt Consolidation in Sydney?
The first step you need to take to consolidate your debt is to determine how much debt you plan to consolidate and how much you can afford to pay off each month. A great way to do this is to use our budget calculator. You can calculate your daily living expenses and see the surplus which can help you figure out how much you can afford to pay off your debt. Try to calculate:
- How much you owe on each debt,
- The total of all debt owing,
- The interest rate you are paying on each debt,
- The monthly fees on each debt,
- How long the term of finance is, and
- Any break costs outlined in the terms and conditions.
What Debts Can You Consolidate?
- Personal loans. This is a common type of debt that is consolidated. You can take out a debt consolidation loan to consolidate two or more separate personal loans, a personal loan and another type of credit, or even refinance a personal loan to one with a lower rate and/or fees.
- Credit cards. If you have a large outstanding balance due on your credit card, you can consider consolidating your credit card as well as another debt if you aren’t a candidate for a balance transfer.
- Store/charge cards. Balances can easily increase on store and charge cards as they do on credit cards. This makes them another type of debt you may choose to consolidate.
Your Local Debt Consolidation Experts in Sydney
At Positive Solutions Finance, we’re your complete debt solutions professionals. If you’re committed to finding a solution for your unmanageable debts, we will work with you to explore all possible options. You decide which solution fits best with your financial circumstances and debt situation. Together we can create a tailored debt consolidation loan with a payment structure that you can afford based on your budget. Taking out a debt consolidation loan with Positive Solutions Finance will help you stay on top of your debts and get back to financial stability. Get in touch with our Sydney team today on 1800 40 3328 for a free consultation.