Debt consolidation is a convenient way to re-arrange your debts so that they are easily managed and dealt with. This basically involves a process whereby multiple unsecured loans are brought together into one single debt. This way, multiple problems become one single issue and therefore can be more practically approached when repaying the consolidated liability. Debt consolidation can improve the overall situation of a debtor in the following ways:
- It may reduce multiple repayments into one single repayment;
- It may reduce the interest that the debtor is liable to pay; and
- It may extend the time in which the debt can be repaid.
When you consider debt consolidation, you must determine whether or not this will improve your financial situation. Speaking to a qualified lawyer who has experience in the area of credit repair can be invaluable. Another avenue that a debtor may consider is entering in to a negotiated agreement with creditors so that repayments can be made more easily. For more information about these arrangements, see our section on “Debt Agreements.” Other matters that will also have to be considered include the effect any debt consolidation may have in relation to your credit history. For more information, see our sections on “Credit Rating Repair” and “Credit Repair Review.”
If you believe that you require legal advice in relation to Debt Consolidation, you may wish to contact by telelphone on (02) 9233 4048 or email to info@navado.com.au to speak to one of our Sydney Debt Consolidation Lawyers. We can provide you with legal advice at affordable and very often for reasonable fixed legal fees. Please peruse our "Locations" tab for a complete list of our office locations.
This webpage (and any material or wording appearing on this webpage) is provided for general information purposes only and does not constitute any Legal Advice. It does not take into account your objectives, your instructions or all of the relevant facts and/or circumstances. Navado accepts no responsibility to any person who relies on the information provided on this website. We further refer you to our Disclaimer.
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If you require assistance with a matter, you should make an appointment to see one of our Lawyers in one of the following locations:
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