Is Debt Consolidation an Option for You?July 23rd, 2014 - NZCU South
A Debt Consolidation Loan is entered into for the purpose of paying off multiple debts by transferring them into a single loan. Debt consolidation loans do not reduce your debt directly, but could be a good way to re-organise your debt, making your goal of being debt-free, more achievable.
The advantages of Debt Consolidation loans:
- It combines debt at a lower interest rate
- Once simple loan instead of many
- A fixed interest rate, essential for budgeting
- A fixed term, giving you peace of mind, knowing when the debt will be paid off
- Reduced fees by avoiding charges from multiple financial institutions.
Debt consolidation loans simplify your money management by doing away with multiple bill payments.
How to arrange a Debt Consolidation Loan
At NZCU our debt consolidation loans form part of our review of your finances, to ensure that all the above criteria for a sensible debt consolidation loan are met. With NZCU, you will receive a highly individualized service. We will work with you to help define your short, medium and long-term goals and help establish a savings programme or arrange a debt consolidation loan which will start you on your journey to financial freedom.
Here is how debt consolidation helped one of our members:
“I am on a good income but I was just was not coping with all my bills. The team at NZCU consolidated my debt and helped me out with a realistic budget. I have saving now and life is so much easier. I recommend NZCU to all of my friends.” Sarah
Contact us today to book your free appointment to find out how we can help you get out of debt, save money and reach your goals faster. You can also apply on line for your debt consolidation loan and we will be in touch.