Australian consolidating debt loan

23-May-2017 18:58

On a very basic level, these debts can be defined as either “good” or “bad”: When it comes to Australia’s personal debt, it’s important to note that the majority of it can be defined as good debt, with 56.3% going to home loans and 36.5% to investments.That’s a total of 92.8% of our personal household debt spent on potential wealth-creation.As a comparison, data from the Federal Reserve Bank of New York shows that non-housing personal debt (i.e.“bad debt”) made up 26.3% of America’s personal debt in the first quarter of 2016.Application fee of 9 waived on Ultra Plus, Optima, Moni Power and Flexi Choice Prime loans.Settlement fees of 3 waived on Flexi Choice Prime loans.

australian consolidating debt loan-5

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This can lead to defaults and more serious issues such as bankruptcy.Even if you don't have bad credit, your application can be rejected with the big loopholes and traps, so let this guide will help you ensure that your application isn't rejected.If you are looking for a new loan with a better rate and more features or would like to consolidate your debts into one easy to manage repayment and save interest, Homeloans has several options for you.There is also the other 8.2% of household debt to consider.