country dating online service single - Advice consolidating credit card debt
This is generally the best option for consolidating credit card debt.
Managed well it can help you achieve financial and personal goals, like home ownership or a new car.
However, when your debt gets out of hand and you find yourself juggling multiple cards and loans, it can be exhausting. Debt consolidation could help you to combine your outstanding debts into one convenient loan potentially at a lower rate than you currently pay.
If this sounds familiar, there are actions you can take to rein in your debt and pay it off sooner. Simply put, that’s one loan, one regular repayment, one interest rate and one set of loan fees.
To take control of your debt it is essential to know how much debt you have.
Review your statements and work out the following: Next, it’s good to know where your money is going and how much you have coming in.
You can use our Budget Planner to work out how much you can realistically afford to repay each month.
Now that you know where you stand - how much debt you owe and how much you can put towards your repayments - it’s time to set up a plan to clear it.
At Westpac, we offer three ways to consolidate debt: A personal loan can be a good option to consolidate a range of debts.
The main benefit of a personal loan is that it has a fixed term.
That means repayments are calculated so that at the end of the loan period your debt is cleared.
By combining multiple debts into one easy to manage personal loan you can potentially: Read more about our personal loans.