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Stay in touch with our latest happenings here at Into Finance Lending Solutions through our company newsletters. From articles to listicles and everything in between, we explain what's important in the worlds of property and finance in Forster and beyond on the Mid North Coast. For all enquiries, reach out to our team today on 0406 184 144.
Frequently Asked Questions
What is debt consolidation and how does it work?
Debt consolidation combines multiple debts like credit cards, personal loans or car loans into one loan with a single repayment. The aim is usually simpler management and potentially lower overall costs, depending on the new rate and term.
Will consolidating debt always lower my repayments?
Not always. Repayments may drop if the new loan has a lower rate or longer term, but extending the term can increase total interest paid. It’s important to weigh short term relief against long term cost.
Can I consolidate debt if I have a mortgage already?
Yes, many people consolidate by refinancing their home loan or using available equity, but it depends on your servicing position and goals. A broker can help compare whether this is a sensible move.
