Regardless of the stage in life you are at, it is important to be aware of your superannuation and what it can do for you in the future. We assist our clients in taking control of their superannuation and aligning it with their future lifestyle goals. Our services include assistance and guidance in regards to:
SMSF
tax returns
pension income
savings and investments
estate planning
planning for retirement
In order to provide personal advice to our clients in relation to superannuation and self managed superannuation funds, Radford Financial Advisory Services (QLD) Authorised Representative No 124 7493 has chosen to be authorised through the SMSF Advisors Network Pty Ltd (SAN) – the Australian Financial Services Licence of the National Tax and Accountants’ Association Ltd (NTAA). SMSF Advisers Network Pty Ltd AFSL No. 430062 ABN: 64 155 907 681
Debt consolidation is a form of refinancing which involves taking one larger loan out to pay off multiple small ones. Although this might make managing repayments easier, you may end up paying more money interest rate or fees.Â
There will be companies that make offers which are too good to be true. If you feel that an offer is unrealistic and the company is promising that they can get you out of debt no matter what your situation is, you should reevaluate using their services. Don’t trust companies that:Â
Are not licensed
Ask you to sign blank documents
Refuse to discuss repayments
Rush the translation process
Won’t put all loan costs and interest rates in writing before you sign
Arrange a business loan when you only need a consumer loan
The goal behind the consolidation is to manage your payments, not create more fees and interest for you. Therefore, before signing onto an agreement, check how consolidation compares with your current fees and interest rates altogether. Also, take into account expenses and penalties associated with your existing loans and whether you will have to pay more money for paying off your loan early. If the expenses work out to be more, it might not be worth going through this entire process.Â
Debt consolidation isn’t the only option if you’re struggling with repayments. Other options may be available which are more suited to you. You should discuss with your mortgage provider, credit provider or financial advisors to determine if there is anything that can be done.Â
