How does it work?
 

When we speak with you we will assess your current financial situation. The solution will depend upon your circumstances. It could involve any of the following:
 

1. Simple information to help you to restructure your debt.
2. Debt consolidation by refinancing your mortgage
3. If you have no property, debt consolidation by using a debt agreement.
4. In extreme circumstances Bankruptcy may be the solution.
   In the case of 3 and 4 above we would prefer you to come into the office for an appointment where we will work with you to prepare a budget and where appropriate document a proposal to pay off your debt without interest.

Debt Restructure / Debt Consolidation
 

Your cost of debt maybe substantially reduced by getting the right debt structure and finding the right source of finance.

Credit cards, Car loans and Home loans can have substantially different interest rates. Choosing the correct structure for your debt and the right supplier is crucial.

Some credit cards charge 27.5% or more, while others are as low as 12.5%.

Car loans also display similar ranges from 8% to 27.5% or more.

Housing loans generally offer the lowest interest rates over a long period. Consolidation of credit cards, personal loans and car loans into a housing loan will normally reduce your cost of debt and lower monthly payments.

To see how much better off you could be each month use one of the banks loan calculators to compare the total cost of your current housing loan costs, car replayment costs and credit card costs to what it would cost if it was all consolidated into a housing loan. 

Commonwealth Bank Home Loan Calculator - www.hlcalc.webcentral.com.au/input.asp

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