Fox Symes Debt Consolidation – Fox Symes Review
Fox Symes Review
Lately I’ve been talking a lot about budget management and how to get out of debt, mainly due to the fact that a lot of my friends are always complaining about being in debt (typical gen Y) and don’t know what they can do. Today I wanted to talk about Fox Symes, the largest provider of debt solutions in Australia.
People in debt are usually in a really bad state and don’t know where to go for help or who to trust. So is debt consolidation with Fox Symes the right option? Do Fox Symes have alternative solutions to debt consolidation? Let’s have a look at the solutions they offer: (for more information on the below debt solutions, visit Fox Symes)
Fox Symes Debt Solutions
Debt Consolidation Loan
A debt consolidation loan combines all your debts into one loan, allowing you to manage your debts easier with just one monthly repayment. Also, a debt consolidation loan may be at a lower interest rate than your unsecured personal loans and credit cards, meaning lower monthly repayments and savings you thousands in interest. Certain lenders have a strict eligibility criteria & if you are not eligible for a debt consolidation loan, Fox Symes may have other options to help you get out of debt.
Informal Agreement
Some creditors may give you more time to pay, agree to re-negotiate the loan amount, settle for a lesser repayment or freeze the interest for a period of time if they are made aware of your financial situation. Fox Symes can assist you negotiate an informal arrangement. They have good working relationships with all institutional creditors. They may be able to assist you in preparing a proposal to your creditors and will then liaise on your behalf with your creditors.
Debt Agreement
A debt agreement is a negotiation with your creditors, which, if agreed to by your creditors becomes legally binding. A debt agreement freezes provable unsecured debts upon acceptance of your debt agreement proposal by creditors. This allows you to pay back the debts over an extended period of time at an amount per week you can afford. Fox Symes is the largest provider of debt agreements in Australia.
Mortgage Refinance
A mortgage refinance is allows you to consolidate all your debts under your mortgage with a new home loan. Some benefits of a mortgage refinance is a lower interest rate than your current mortgage and extending the length of your mortgage, leading to a reduction in your monthly repayments. Also the interest rate of a mortgage is usually significantly lower than the interest rate you pay on your personal loans and credit cards. Fox Symes can assist you with a mortgage refinance. They have relationships with numerous lenders who may be able to provide you with a mortgage refinance loan that will assist you.
The above debt solutions are only some examples of how Fox Symes can help you resolve unmanageable debt. If you are unsure which option is right for you, you can contact Fox Symes for a free consultation. They will analyse your current financial situation and provide free advice on which option is best suited for you.
