You might be considering assessing your current loans and interest rates to see if there is room for improvement and savings.

Many useful websites like Finder, Mozo or Canstar provide comparison interest rates for home loans, personal loans, credit cards, and car loans. Comparison interest rates were introduced to give you the true picture of how good a loan is when everything is considered, including fees and interest rates – making it easier to find the best loan deals on the market.

You can also ask your existing lender to see if they’ll provide better terms.

It is also easier than ever before to change loan providers, however you should review your existing loans to confirm whether exit fees apply which may impact the benefits of changing to a new loan provider.

If you are thinking about changing providers, you may consider getting a copy of your Equifax, Illion and Experian credit files and check they are clear of black marks. Black marks include defaults or court actions or repayment history indicators – these will raise a red flag in any new loan application.

Lenders will also look at your current debt levels when they assess your new loan application. So, if you’re looking to switch loan providers, you should consider reviewing your existing debt.

You may consider seeking professional help if you want to reduce your debt.  We recommend you consider seeking professional financial counselling, such as contacting the National Debt Helpline on 1800 007 007 and speaking to a financial counsellor.

Alternatively, Solve My Debt Now provides a holistic debt relief solution that can be an alternative to immediate insolvency or bankruptcy.

Our debt relief solution aims to achieve any or all of the following outcomes for you:

  • Negotiating with creditors to reduce or waive your debt based on your current circumstances.
  • Negotiating with creditors to reduce or suspend your interest payments.
  • Where successful, avoid leaving a 5-year black mark on your credit file in contrast to the outcome of a part 9 debt agreement or bankruptcy filings.
  • Minimises your contact with creditors wherever possible.
  • Setting up payment plans with your creditors within your estimated budget to make paying back your debts manageable over time.

We Can Help You – Today

The Solve My Debt Now team are experienced, non-judgmental professionals who work hard to provide tailored solutions for our clients. Book your FREE Consultation now and talk to one of our qualified SMDN Advocates to see if we can help. It just may be the call that puts you back on the road to financial freedom.