Debt consolidation
In the process of debt consolidation, varied unsecured debts such as medical bills,
credit cards, payday loans, personal loans etc. are combined to single bill.
Ourmoneymarket.com offers innovative debt consolidation solutions. All your
payments are combined to one probable monthly payment with our debt
consolidation solutions. This helps in elimination of mistakes and avoids the
problems of late payments or wrong amount.
For all those who are in search of debt consolidation Australia can rely on our
services. We offer best solutions of debt consolidation to all those who find it
difficult due to several personal loans and credit cards. You can get the product
meeting your specific needs from the all-embracing financial services offered by
us.
Debt consolidation loan:
In place of the hassle of making several payments to various creditors, you can
provide single lender with one payment with the help of Debt consolidation loan
(DCL). The interest rate of debt consolidation loan is fixed and it is often lower
compared to the one paid by you. This makes debts repayment easy and your
monthly payments are also reduced.
Debt consolidation loans are of different types such as personal loans, loans of
home equity, credit cards balance transfers on zero interest, student loans etc. The
tracking of finance becomes easy as your wide ranging bills are bundled by this
recognized way into one single payment. One can also take holiday loans for
several types of holidays and the rates are condition dependent.
Debt financing:
Both secured as well as unsecured loans are covered in debt financing. A type of
collateral is involved as the security that can serve as an assurance of loan
repayment. In case of any type of default by the debtor on loan, the debt payment
is satisfied by forfeiting this collateral.
The lender could be offered with one of the following type of security:
 Guarantors: an agreement is signed by them that state the guarantee of
loan payment by them.
 Co-makers: basically the principles having responsibility for paying the
loan
 Accounts receivable: as soon as shipment of goods takes place, these allow
banks to spread 65-80% of the value of receivables.
 Real estate: either private or commercial, accessed value’s 90 percent could
be counted in this.
 Equipment: for a loan, 60-65% of the value is provided by this as collateral
 Securities: for a loan repayment, the companies held publically are allowed
to offer bonds and stocks in the form of security.
 Deposit certificate or savings account: for the purpose of loan security, this
could also be used.
 Display merchandise: via the process termed as floor planning, loans could
be secured by using things like cars, furniture, electronic equipment etc.
 Warehouse inventory: of the loan amount, 50 percent is secured by this.
 Chattel mortgage: when collateral is some type of equipment- on the basis
of something that is less than the existing value of the equipment, loan is
made by the lender. Till the tome of loan repayment, the mortgage is hold
by the lender.
 Insurance policies: for the amount as good as 95 percent of cash value of
the policy, these can be taken as the collateral.