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What is debt
consolidation?
 Debt
consolidation is where you pay out
all your current debts with on lower
rate loan.
Why would I need to
Consolidate?
Sometimes in this day of easy
extended credit we can find
ourselves swamped with multiple loan
repayments that stop us from
enjoying life. Sometimes an
unfortunate event might have caused
missed payments or the requirement
to take out urgent but expensive
finance.
What can I do about It?
There is light at the end of the
tunnel. We can help you lower your
payments by consolidating multiple
debts together to reduce the
payments..
Most people have multiple debts. You
may have high interest credit cards,
personal loans and mortgages. To pay
off one debt you may need to borrow
from someone else, creating yet
another debt. The answer to this
situation is debt consolidation.
If you own a home, you can get a
debt consolidation home loan. A debt
consolidation loan allows you to
consolidate each of your high
interest credit cards, your
personal loans and other debts into
one affordable monthly payment with
a lower interest.
An example of the cash flow saving
you can experience:
|
Debt |
Amount |
Interest Rate |
Monthly Payment |
| Home Loan |
$320,000 |
7.82% |
$2,431 |
| Personal
Loan |
$15,000 |
12.75% |
$400 |
| Credit
Card(s) |
$12,000 |
15% |
$360 |
| Car Payment |
$13,000 |
12% |
$431 |
| Total
before Consolidation |
$360,000 |
|
$3622 |
| After
Consolidation |
$360,000 |
7.15%
(Comparison rate 7.15%) |
$2,432 |
|
This consolidation
reduced payments by $1190
per month. |
|
Please note that
credit conditions apply and
their could be lender fees.
This is a representation
only and your specific
circumstances and goals need
to be taken into account for
your situation. |
If you own a home, you can get a
debt consolidation home loan. A debt
consolidation loan allows you to
consolidate each of your high
interest credit cards, your
personal loans and other debts into
one affordable monthly payment with
a lower interest.
For more information
on how Origin
Finance can help you a click
here
Click Here to Enquire Now
1300 30 6767
Level 3, 97 Pacific Hwy
(PO Box 6478) North Sydney 2060
Phone: 02\9922 5055
Fax: 02 9922 5276
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