Consolidating consumer credit card debt dating girl online woman

The amount of your monthly payment will depend on the total amount, interest rate, and payment terms of your consolidation loan.There are thousands of companies that claim they can help you consolidate or manage your credit card debt so that you pay less or reduce your payment.

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This is generally the best option for consolidating credit card debt.

By transferring multiple balances from non-Westpac credit cards or store cards into one low rate credit card you can potentially: This option requires good discipline as there is no set repayment amount.

You can use our Budget Planner to work out how much you can realistically afford to repay each month.

Step 3: Explore debt consolidation options Now that you know where you stand - how much debt you owe and how much you can put towards your repayments - it’s time to set up a plan to clear it.

If you are struggling to pay off multiple credit cards, consolidating your debt may allow you to reduce your interest rates and lower your monthly payment.

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