The idea is to consolidate various high interest rate unsecured debts into one monthly bill, which is significantly lower than the combined total of the previously made individual payments. You’re left therefore with much more money in your pocket at the end of each month. With this extra disposable income you can either put money towards further decreasing your debt by making extra payments, or instead of paying for certain items with your credit card you can pay cash.

At Scope we have successfully helped many clients reduce their overall monthly loan repayments through debt consolidation.

When applying for a debt consolidation loan you need to be aware of the following:

• Debt Consolidation should not be considered as a short term fix, as while your repayments will drop immediately, it will take some time for you to pay off outstanding debts;
• From day one you will benefit from a reduction in your overall payments;
• You will be able to finally take control of your financial situation;
• Whether you are looking to become free of debt or save for a deposit a new home loan – debt consolidation will help get you there sooner.

Would you like to find out exactly how much you can borrow? - SEE A BROKER

There are numerous ways to structure your home loan, with choices of fixed rates, variable rates, off-set accounts etc... check out the different LOAN STRUCTURES.