If the unthinkable were to happen to you, the last thing you would want is to shackle your loved ones with unpaid debts. So, it is important to know exactly what happens to your debts when you die. We’ve talked before about what happens to your HECS-HELP debts when you die, and the good news … Continue reading What Happens to Your Debt When You Die?
When you have a lot of debts, consolidating them down to one, easy to manage repayment makes a lot of sense. It simplifies your bookkeeping, can reduce the overall interest rate you are paying, and can help you pay off your debts faster. However, consolidating your debts can have a negative impact on your credit … Continue reading Consolidating Debts without Ruining Your Credit
A negative credit rating can affect your ability to take out a loan, apply for a credit card, or open a bank account. Knowing the factors that affect your credit rating is crucial to prevent your score from becoming too low. There are even ways to improve a low score and increase your chances of … Continue reading When is Your Credit Rating Affected?
Your credit file is a tool that lenders and financial institutions use to determine your qualification for a loan, credit card, or account application. It’s an important, ever-changing report that takes into consideration all of your financial activity throughout your life, and is something you should keep tabs on. Thankfully, there is an easy, free … Continue reading How to Check Your Credit File For Free
Consolidating debt by combining several loans into a single loan is a great way to help you keep better track of your loans and manage your repayments. Unfortunately, most debt consolidations require some form of collateral: a car, home, or item of value. However, there is a way to consolidate loans without collateral: an unsecured … Continue reading Loan Consolidation without Collateral – is it The Right Choice For You?
Filing for bankruptcy is something you can do to help alleviate debts and put or stop a failing business from haemorrhaging further funds. But there are a lot of things to consider when declaring bankruptcy, as it can have very serious long-lasting effects on both your business and personal life. Immediate Effects Immediately after declaring … Continue reading What Are The Effects of Bankruptcy?
The HECS-HELP scheme is designed to help eligible students to pay for their education with loans and discounts. HECS debt accumulated during this time is different to other types of debt, and repayments are based on your income rather than the amount you have left to pay. Ultimately, the debt is cleared upon death. What … Continue reading What Happens To HECS-HELP Debt Upon Your Death?
It is important to understand that a formal debt agreement is a serious step with real consequences. It is a severe debt solution that affects your credit rating and even your career, and should be used only when other means fail. Talk to a financial expert before you enter a debt agreement. They can explore … Continue reading Taking Out A Debt Agreement
You can still refinance your mortgage even if your credit history is poor. Many people believe that it is impossible to refinance a mortgage if their credit rating is poor. The truth is, you still have a good chance of obtaining mortgage loans if you follow the right process. Most lenders take into account … Continue reading Mortgage Refinance For Poor Credit
Debt consolidation loans offer a possible solution that can help you to deal with overwhelming forces of debt coming from multiple directions. When you have debt from several lenders or lines of credit, each with their own terms and interest rates, it can be difficult to keep up with repayments. It’s at times like this … Continue reading Are Debt Consolidation Loans Easy To Get?