Debt consolidation is gaining more attention as Australian households face mounting debts.
As the country’s household debt-to-income ratio hit almost 200% and total household debt reached a record $2.4trn this year, simplifying repayments and taking control of one’s debt are becoming important topic areas to discuss with clients.
While the idea of combining clients debts into one new loan at a lower rate seems easy to sell, Simon Frost, manager of residential operations at non-bank lender Liberty, said it is important to make sure a debt consolidation product is not unsuitable for a borrower before recommending it.
Liberty offers debt consolidation solutions for…
Read the full article at: https://www.brokernews.com.au/news/breaking-news/consolidation-in-time-of-heavy-indebtedness-246262.aspx
