Debt consolidation loans
If you have multiple debts, such as credit cards, personal loans, car loans or store cards, you may be paying high interest and fees, and finding it hard to keep up with your repayments. This can affect your cash flow, credit score and financial wellbeing.
Debt consolidation can help you simplify your finances and save money. It involves combining all your debts into one loan, usually a home loan, which has a lower rate and a longer term. This can lower your monthly repayments, interest and fees, and make it easier to manage your budget.
But debt consolidation can also have some risks, such as taking longer to pay off your debt, paying more interest over the loan term, or putting your home at risk if you miss the loan payments.
At Enlighten Finance, we can help you find out if debt consolidation is right for you and guide you through the process.