NewsExperiencing Mortgage Hardship?
posted 10 May 2016
Given the recent downwards movement in interest rates, many borrowers have been fully focused on paying down their mortgages as fast as possible to give themselves an equity buffer in case something goes wrong. However if you have recently lost your job, experienced a business downturn, or a period of unforeseen illness there is something that you can do to protect you and your family from loosing your home or going bankrupt. Speak to Your Lender The first step to Continue Reading
Is debt consolidation always the best solution?
posted 5 Apr 2016
Debt consolidation is the process of putting all your outstanding debts into a single loan thereby supposedly saving money and making debt repayent easier. In reality debt consolidation can take place in many different ways not all of which may be the right solution for every debt ridden borrower. Borrowers who have significant assets but can not meet debt repayments because of low income There are a number of options available for such borrowers. The best option probably is to Continue Reading
Cash is no longer king
posted 22 Mar 2016
It is no wonder that more and more people are finding themselves caught in a web of debt. Cash has become a four letter word with many retailers and service providers not willing or able to accept dollars and cents in payment for their goods and services. It does not matter whether the purchase is a small or a large one. Even your local caffeine traders prefer to see you wave a bit of plastic in payment for a latte, Continue Reading
National Hardship Register may help you
posted 23 Feb 2016
Its all very well if you are working and paying off your debts slowly. You may find the debt repayment process challenging but not impossible. There are multiple debt consolidation and rationalisation options available which may assist to reduce set repayments without needing to damage your credit history or declare bankruptcy. It is much harder to find an effective debt solution for individuals who have no way of repaying their debts no matter what they try. The National Hardship Register Continue Reading
Debts which can wait
posted 31 Jan 2016
Not all debts are equally as urgent. In deciding which debts can not wait you would need to consider the cost of delaying repayment and the impact on your ability to borrow elsewhere. So while credit card debt tends to hold the number one priority in the urgency of repayment, followed closely by other loans such as your car loan, personal loan and your home mortgage – other debts can wait and in fact can be paid off over very Continue Reading
Can I put all my debt into a single loan?
posted 11 Jan 2016
We get to hear this question a lot. Individuals with numerous cards, personal loans and the like who are having trouble paying all their debts are looking for a simpler and easier solution to their debts. While the answer largely depends on the appropriate debt solution for the individual, it is important to remember that different types of debts may need a different approach. All debts in one There are a number of ways in which it may be possible Continue Reading
How much interest should you pay on your debt?
posted 7 Dec 2015
There is little consensus on this subject. However much depends on the borrower, the amount of debt and the purpose of debt. Credit providers are trying to charge borrowers as much as they can, while borrowers are seeking out the best possible finance deals which can save some some money. Then there is the Australian government who would like property investors to go away or at least to go into temporary hybernation – to this end they have encouraged lenders Continue Reading
Which debts should you pay off first?
posted 10 Nov 2015
If you are like most Australians, you are probably juggling bills and debt repayments. There is the mortgage, car loans, credit cards, as well as other bills such as utilities which have the nack of arriving just as you have allocated your last dollar for the month. So like others you probably decide that some bills are more important than others resulting in occassional late payments to credit and service providers. Late payments can affect your cost of credit Since Continue Reading
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