The debt payment reminders are coming thick and fast for your credit card, your other credit card and maybe a car loan or personal loan, along with home loan repayments.
Trying to manage multiple debts can be so overwhelming that its easy to stick your head in the sand.
But if you cant make your repayments on time, the first thing you should do is contact the company you owe, explain your situation and agree on a payment plan.
You might also consider rolling your debts into one loan a process known as debt consolidation.
Story Wealth Management chief executive Anne Graham said combining your debts into a single loan and only having one repayment either fortnightly or monthly can make debt easier to manage.
It helps you feel like you…
Read the full article at: https://thenewdaily.com.au/finance/dollars-and-sense/2021/08/16/debt-consolidation-pros-cons/
