Are you tired of struggling with debt?
Don’t worry, you’re not alone. We’ve helped thousands of Australians to work towards a debt-free future.
Right now, you’re probably tired of being on the debt treadmill and are wondering where you’re going to find the money for the next bill.
Our expert consultants will help you to create a pathway out of debt:
- Consolidate debts into one easy payment
- Reduce your interest payments
- Get your debts under control
- Work toward a debt-free future
With our help, you can enjoy a debt free future.
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Hi Grant I would like to thank you and your staff for all the outstanding help and support that my wife and I have had over the past few years. We contacted Debt Fix in 2009 after falling...
Do you have debts that need consolidation? Debt Fix has the Solution.
Consolidation is an easy, cost effective way to bring debts together into one, affordable payment.
At Debt Fix, we know everyone's situation is different and we understand that there is no “one size fits all” solution when it comes to managing debt. For this reason, we present affordable options specifically tailored to suit your situation.
Understanding your needs and delivering exceptional customer service is something we believe you deserve – no matter what you situation is.
If you’re struggling to pay your debts in addition to household costs, you need to know there are a number of effective, cost saving options that may be available and with Debt Fix’s “no fix, no pay” guarantee there are no risks in speaking to our team of trained specialists.
A debt solution is a discrete phone call away. It’s time to stop the stress and anxiety that exists when you can’t afford to pay for the essentials because debt collectors are knocking on your door, sending demand notices or calling you 24/7. You need a fast, effective solution and which restores peace of mind.
What is debt consolidation and is it the best way to address your debts?
Simply put, debt consolidation brings a number of debts into one payment. It makes sense that it would be easier to deal with one debt instead of many. The real question is whether Debt Consolidation provides a benefit. In answering this question the consumer must know exactly what they are paying now (in debt repayments) versus what they would be required to pay under any new consolidated facility.
Say for instance you have 6 credit cards and your minimum monthly repayments come to $500. To work out whether it would be beneficial to consolidate these cards under a debt consolidation loan, you must consider the overall cost of the cards versus the monthly cost of the consolidation loan. In this example, if the consolidation loan repayments save you $10/month, is it worth it? Sure it may be more convenient to have just the one payment, but is the benefit worth the hassle?
There are other ways to consolidate the debts or payments. Why not consider tapping into the equity you have in your property if you’re a home owner? This has been a popular way to refinance debts and with interest rates at record lows, this may be a viable option (assuming you meet the lender’s criteria). Naturally this may not be suitable for everyone and it’s important to speak with a broker that has an Australian Credit Licence for your own peace of mind.
Another way to consolidate your debt repayments is to pool all your direct debits into a specified separate and dedicated “debt repayment” account. Whilst this doesn’t save you any money, it will be just as convenient as if you had one payment.
For people struggling to repay their debts, can’t get a loan and want to avoid bankruptcy, there is also an option called a Debt Agreement. A Debt Agreement is a very powerful way to pool most unsecured debts into a single, interest free repayment. Whilst the benefits are clear, the are some consequences when you make a debt agreement and it’s not a solution that that would suit everyone, however it can provide relief and peace of mind as an alternative to bankruptcy.
A Debt Consolidation Loan is (and most likely always will be) the most popular way to consolidate debts. However, as popular as they may be a Debt Consolidation Loan is out of reach if your credit reputation is less than perfect or you don’t meet the lenders credit requirements. In addition, we find that (more often than not) a debt consolidation loan is a pathway to further indebtedness - especially if the initial credit cards and lines of credit have not been closed.
Therefore I you believe that Debt Consolidation is the best way forward; a little homework goes a long way. These are my top four tips to finding the best way to consolidate debts:
- Do your homework. Find out what you are currently paying and compare that to any new facility / debt consolidation
- Make a list of all the benefits and consequences and read the product disclosure statements
- Understand what your credit reputation is and get a copy of your credit history
- Make sure your change your spending habits and address the underlying cause of your financial difficulties before you increase your indebtedness
Debt Consolidation Frequently Asked Questions:
Q: I've tried everything and no one has been able to consolidate debts. How can Debt Fix help me?
A: Debt consolidation is our business. How ever you think your situation is, we are confident we can find a solution for you.
Q: I have debt collectors chasing me and its stressing me out, I need debt help fast!!
A: We act fast to relieve the stress. We speak to your creditors so you don't have to.
Q: If you cant help me, how much will my application cost me?
A: Debt Fix will never add to your bad debt issue and we have a "No Fix, No Pay" policy.
Call us now on 1300 332 834 for an obligation free, debt consolidation analysis.
Debt Consolidation Tips and Articles
Often when someone needs a debt solution due to struggling under multiple debts they automatically believe that a debt consolidation loan is the only answer. But this is not always the best way to go. Read more...
Have you worked yourself into a financial pitfall of debt that you simply can’t seem to climb out of? Here are 6 tips that may help you. Read more...