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Alternatives to Debt Consolidation Loans

If you are in debt and are finding it difficult to manage your repayments it's important to look at all options available to you in order to resolve your financial situation.

A Debt Consolidation Loan is only one option available to you. Read, What is Debt Consolidation? for more information

Other options that may be available to you include:

Informal Arrangements

An informal arrangement is an arrangement with some or all of your creditors to assist you in managing the repayment of your debt. Once creditors are contacted and are informed of your financial position, many, when aware of genuine financial difficulties, will assist you.

Debt Agreements

A debt agreement is a simple method for you to enter into a legally binding agreement with your creditors. It provides protection that an informal arrangement does not. However there are eligibility criteria and there are consequences.

Personal Insolvency Agreement

A Personal Insolvency Agreement allows you to propose a compromise with your creditors and it is another way you may be able to take control of you financial situation. Again it has consequences and specific requirements.

Mortgage Refinancing

Refinancing your property may be an option if you are in debt or are struggling to pay your existing mortgage. Mortgage refinancing allows you to package the repayments from all your debts into one convenient payment, where you may end up paying less per month than you currently are. In many ways it is similar to debt consolidation.

Conclusion

Whatever remedy you choose to resolve your debt problems you need to be careful and to be fully informed. Make sure:

  • You fully understand what you are doing
  • The solution will be of real benefit to you and not just a short term fix
  • You have achieved control over your debts
  • Your repayments will be reduced and not increased
  • You are fully informed of the consequences of the steps you are taking
  • There are no hidden costs
  • You are better off as a result of the solution you have chosen

If you have any questions about debt consolidation or the other options mentioned above, our staff are available to assist you immediately. Contact us on 1300 219 232.

How It Works

Call anytime. It's free, there's no obligation and it only takes 10 minutes.

Step 1

Fill a free consultation enquiry form or call us

Step 2

Our consultant will assess your current financial situation to find the best option to reduce and eliminate your debt

Step 3

Once approved, you're on your way to be debt free.

Act Now and Get a Free Consultation.

If you are struggling and have debts over $7,000 and want to discover if debt consolidation can improve your financial situation call Australian Debt Reduction today to start reducing your debts. Contacting us is easy, call Australian Debt Reduction on 1300 261 922 - 24 hours a day, 7 days a week.

Enquire Now – Just 4 questions to answer

  1. 1 Do you have a home loan?
  2. 2 Do you have unsecured debts of $7,000 or greater? Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
  3. 3 Do you receive a regular income?
  4. 4 Have you been bankrupt in the last 13 years?
Next

Yes! We can help you.

Option 1: Call us now

Free Call 24 hours, 7 days a week

1300 219 028

Fox Symes is the largest provider of debt solutions to individuals and businesses in Australia. We help over 100,000 Australians each year resolve their debt and take financial control.

Option 2: We call you

Unfortunately, we are unable to assist you.

For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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Unfortunately, we are unable to assist you at this time.

Please contact us for assistance once you have secured a regular income.

We look forward to your call.

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Unfortunately, we are unable to assist you.

You need to have over $7,000 in unsecured debt to apply.
For further assistance we recommend you:

  • Speak to your Creditors
  • Call AFSA on 1300 364 795
  • Speak with a Financial Counsellor
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FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.

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FREE Phone Consultation

Australian residents only.

  1. Credit cards, store cards and personal loans are types of unsecured debts. Mortgages and car loans are not.
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