Debt Consolidation loan refused?

Has your debt consolidation loan been refused or declined? If so you may consider our alternative debt relief solutions today.

We offer FREE initial advice without obligation Call Us Now on 1800 98 10 70.

What are our alternative solutions if you have been refused a loan?

If you have been refused a consolidation loan due to a poor credit history or the financial institution does not believe you can service the loan and you cannot meet your other financial commitments (ie you are struggling with unmanageable levels of debt), you may wish to consider some other debt relief solutions:

What is Debt Consolidation?

Debt Consolidation is a financial product (usually a personal loan) whereby you roll old debts into a fresh loan, ie you combine many different debts into a single loan.

What are the benefits of a obtaining a loan to consolidate debt?

  • One single loan repayment per month rather than many individual repayments
  • Secure a lower rate of interest
  • Shorten the total repayment period

Consolidating debts

  • Credit cards
  • Store cards
  • Other personal loans

Who offers debt consolidation loans?

Typically these types of loans are offered from major financial institution like the big 4 banks in Australia. We also recommend that you shop around for the lowest interest rate and account keeping fees. Remember to ask about the account keeping fees and the loan establishment fee as these can greatly affect the effective rate of interest. Not all financial institutions will offer these type of loans on an unsecured bases ( ie without security), so you may be asked to put up an asset as collateral (like a house or a car).

Will I qualify for a debt consolidation loan?

It is unlikely you would qualify for a loan if any of the following factors are present;

  • You have a bad credit record; or
  • You have been bankrupt in the last 10 years; or
  • You are in default with other loan repayments
  • You do not have regular employment.

If you have been refused a debt consolidation loan, you may wish to consider our debt solution services. Remember our advice is free and without obligation, so call us today toll free on 1800 98 10 70, you have nothing to lose!