Debt consolidation involves getting a new loan to replace several existing loans or debts that you may have, bringing all of your repayments under one regular payment by consolidating your debts.
Loan refinancing involves getting a new loan to replace your existing loan, such as a home mortgage. Loan refinancing may also involve borrowing further monies to repay other debts at the same time.
A new loan may be the alternative that best suits you to make it
easier to meet your monthly financial commitments, and may also
provide the benefits of a lower interest rate or lower monthly
repayments. Of course, you will need to have the necessary
regular income to consider this alternative and be approved by the
relevant lender.
AFS can assist by you by providing an independent assessment of
your financial position to determine whether loan
refinancing or consolidation is right for
you. If so, AFS will help you collate the necessary
information to seek approval for the new loan on terms that suit
your circumstances. You may qualify for this option even if
you have had poor credit in the past.
If loan refinancing or debt
consolidation is not right for you there are other
alternatives that AFS can assist you with, such as a debt agreement.
Contact us now and let AFS give you the financial solution you need.