Debt consolidation obviously does not reduce the amount you owe, but it should result in you paying less interest in the long run, if done right.
Consolidating debt tips
You can also reach out to your individual creditors to see if they will agree to lower your payments.
Some creditors might be willing to accept lower minimum monthly payments or change your monthly due date because they would rather get paid less on a regular basis – than not get paid at all.
Aussie Brokers have extensive experience with debt consolidation, and can analyse your circumstances and needs to guide you through the process.
There's no obligation when meeting with an Aussie Broker and their service is completely free.
Many people get into debt because they can’t afford to make monthly debt payments on top of paying for daily living expenses.
If you’re not sure of the best way to address your debt, a credit counselor can help you explore your options.
Many people become overwhelmed by their debts, but they don't have to be.
One way to help alleviate some of the strain is to consolidate debt from multiple sources.
According to data released by the Federal Reserve this February, Americans' revolving, non-mortgage credit increased in December 2014 to .3 trillion -- while non-revolving credit (such as student and auto loans) rose to .42 trillion, as reported by USA Today.