DEBT SOLUTION OPTIONS

REFINANCING
One of the first options available to people in financial difficulty is to refinance their home to release equity to pay off their debts. If you choose to do this, what it essentially means is that you will be paying off your mortgage for a little longer than at present. However, on the plus side, your name will not appear on any public record or credit file.

RENOGOTIATE DEBTS
Another option is to renegotiate your debts with your creditors. To do this you can talk to us or go directly to your bank or lender.

DEBT CONSOLIDATION LOAN
A debt consolidation loan can be used to combine all of your monthly outgoings into one lower affordable monthly payment.

DEBT AGREEMENT
Option four is to make a debt Agreement. It is not a debt consolidation loan but it will consolidate your many debt repayments into one, affordable and sustainable payment to settle unsecured debt. It is not for everyone and various conditions apply, but with the assistance of our debt management specialists, we can assess you position for free and help you make the decision that’s right for you.

BANKRUPTCY
Option five is to file for bankruptcy. This will mean that your name will be listed on a credit file. Bankruptcy is serious so we strongly recommend that you carefully consider your options before declaring yourself bankrupt. To help with your decision, including the process and your obligations under bankruptcy please refer to www.afsa.gov.au for information.

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