| "> | | | | Debt consolidation also appeals when you look at |
| Many people today are having difficulty meeting | | | | the monthly repayment you are making on your |
| their loan commitments and as a result look to | | | | new car or used motor vehicle. Lease and hire |
| debt consolidation as a means to reduce their | | | | purchase repayments on a new car or used |
| monthly outgoings. The normal process for debt | | | | vehicle are always high because they include a |
| consolidation is to wrap up your credit card debt, | | | | large slice of principal each month because you |
| any personal loans, your car repayments perhaps | | | | are required to repay most of the new car price |
| - all into your home loan mortgage. There is no | | | | within a maximum of 5 years. The term is short |
| doubt that debt consolidation is attractive in that | | | | as opposed to your standard 25 â 30 |
| the interest rate you pay on your credit cards | | | | year term under a home loan. When you look to |
| and personal loans is always higher than that | | | | debt consolidation to ease these payments and |
| payable under your standard mortgage because | | | | improve your cash flow you must remember that |
| the personal debt is unsecured â you can | | | | in doing so, you will pay significantly more over |
| disappear and the lender has no recourse to a | | | | the loan period than you would have if you had |
| property or asset to sell in order to recover the | | | | managed your car loan repayments under a lease. |
| money it has lent to you. | | | | |