One loan, one simple payment
Add Your Heading Text Here
“Juggling multiple debts can be overwhelming. With SBS Lending, you can consolidate your debts into one simple loan, making repayments easier to manage. Take control of your finances, reduce stress, and move toward financial freedom with confidence.”
FAQS
Frequently Asked Questions
Q: What is a debt consolidation loan?
A: A debt consolidation loan is a type of personal loan used to combine multiple existing debts (like credit card debt, personal loans, or store cards) into a single, new loan. This can make managing your finances much simpler as you only have one regular repayment, one interest rate, and one set of terms to manage, instead of several.
Q: When is debt consolidation a good idea?
A: It can be a very good idea if you can get a new loan with a lower interest rate than your current debts. This can save you a significant amount of money on interest and help you pay off your debt faster. It also simplifies your budget by giving you a single, clear repayment to manage each month. This is particularly appealing in Sydney, where the cost of living is high and financial management can be challenging.
Q: What types of debt can I consolidate?
A: You can typically consolidate various unsecured debts, including credit card balances, personal loans, car loans, and medical bills. The new personal loan will be used to pay out these individual debts, leaving you with one single debt to manage.