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Reducing Mortgage Debt & Consolidating Loans
Discover strategies to manage and reduce your mortgage debt and learn how consolidating loans can save you money on interest.
Discover strategies to manage and reduce your mortgage debt and learn how consolidating loans can save you money on interest.
Australia’s average household debt rose to $261,492 in 2021-22, while disposable income grew modestly to $139,064. With rising debt levels, interest rates, and living costs, many Australians are turning to debt management companies for help. These companies offer services like debt consolidation and creditor negotiation but come with their own set of pros and cons. Alternatively, DIY strategies such as budgeting, negotiating repayment terms, and seeking government assistance can be effective. Understanding your options and taking proactive steps are crucial for financial recovery.
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