There are a few options to choose from when looking to consolidate your debt. Some people look to get a debt consolidation loan but the interest rates can be high meaning you pay off more for your debt overall. If you are already behind on your repayments you are unlikely to qualify for a loan to consolidate your debts and you may want to explore debt review.
It is a type of refinancing. You take out a loan from the debt consolidation company to pay off all your debts. If you do qualify, the loan is usually offered at a high-interest rate. And you cannot be over-indebted at the time of application.
This process is for people who are struggling to make their monthly loan repayments. Beware of hidden costs. They always bite in the end.
For more information on debt review and consolidation as well as other debt management options, check out this article.
Contact us if you are ready to take the step towards financial freedom.
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If you are over-indebted and struggling to pay off your debts as per your agreement with your credit providers, then the debt review process might be the best way for you.
Particularly if you are worried about the repossession of your assets. You only have one reduced payment to worry about each month and as this is a legal process your assets are protected as soon as you sign up.
▶︎ Debt review provides you with the following benefits: