
Caution To Online Money Transfer – No Room For Errors
Around 96% of Australians use banking and online money transfers; it’s fast and it’s easy. But the do-it-yourself banking system that we have these days
Personal loans are a great way to access funds for things such as home improvements and unexpected expenses. If you have a solid source of income to cover the repayments, but simply and need some extra funds to cover costs then a personal loan can be a great option. Personal loans often come with lower interest-rates than credit cards and so long as you can keep up with payments then your credit score can even benefit from having one.
Generally, you are expected to repay a short-term loan within a year. These are particularly useful for things such as car repairs where you need money fast. It is important to ensure that you will have the resources to repay this loan however. Particularly since this loan has a shorter repayment schedule.
If you need emergency funding, then a quick loan could be suitable. However, while quick loans can be approved fast with little documentation, repayments are also needed quickly and interest rates can be higher than a standard personal loan.
It is possible to replace an existing debt repayment plan with a new one, under different terms. Let’s say your car is under a 3-year finance agreement and you have 1 year of the plan left, but you are finding that you are struggling to afford your repayments each month. You can apply to refinance the rest of the money owed. It may be possible to simply refinance it into a smaller APR which can save you money, or alternatively extend the repayment length to 2 years and pay less each month.
You will be able to keep on track with repayments
Never get a loan that you cannot afford to pay back.
You apply for one loan at a time. If you get rejected, it’s time to check your credit score.
Each time you apply for credit, it shows up on your credit file as a ‘Credit Enquiry’.
How much do you actually need to borrow?
Always have a clear plan of how much you actually need to borrow. We can help with this.
Around 96% of Australians use banking and online money transfers; it’s fast and it’s easy. But the do-it-yourself banking system that we have these days
There are several ways of paying debt, two most common are informal debt arrangements, and a more official Part IX Debt Agreement. An informal debt arrangement does not negatively affect your screidt score unless you cannot stick to it, where as the Part IX Agreement is actually part of the Bankruptcy Act and can serious impact your ability to borrow down the track.
Can a credit contract be re-negotiated? In many cases the answer is yes. When a credit contract is entered into, the details of the agreement are documented and agreed on by the associated parties.
Just Budget Pty Ltd is a well respected company specialising in debt management and credit card support. Our primary goal is to remove the pressure from our clients and help Australians take back control of their finances.