What is unsecured debt?
A debt with no collateral secured against it. In the event that the debtor defaults on the loan, there is no collateral to foreclose on.
Unsecured loans we can help with: Loans: Credit Cards Personal loans Payday loans Bank account overdrafts Some debt consolidation loans Money borrowed from friends or family (if electronic transfer/records kept) Disconnected services such as:
Phone contracts, electricity and gas bills, internet, Foxtel etc.
Rent / Mortgage:
Rental arrears/debt for previous property, Mortgage or car loan shortfalls (where the asset is sold for a loss).
Invoices or fees relating to:
Medical, Vets, Mechanics, Car accident debts, School fees, Solicitor, Lawyers, Business suppliers etc.
(so long as services are completed and no longer need to use that provider again). Government related debts:
Tax bills, Centrelink Overpayments.
Debts that are not able to be included: Child Support arrears Speeding fines, infringements, penalty notices, parking fines, toll charges, etc. Current radio rentals or rent to own agreements Current rental arrears or overdue bills Debts in another person’s name Council rates HECS/student loans NZ Inland revenue debts The Best way to use your Tax Return Invest in an espresso machine – A cup of takeaway espresso costs about $4 but made at home costs about $1 to make. If you had 2 cups per day thats a saving of $6/day or $2,190 per yea Buy Homebrew equipment – Coopers Homebrew beer will costs about $6/carton. Commercial beer is about $40/carton. Assuming you drank 1 carton a fortnight that’s a $884 saving per year. Pay off Old Bills – a tax return can be the best way to catch back up. Some bills also have high interest rates. Wipe out High interest debt – If you have debts put it all on the debt with the highest interest Create an emergency fund – To protect against financial disaster you need 6 months of savings. Top up your Superannuation – It’s hard to find a better investment than superannuation, it’s low tax and it has the benefit of being difficult to touch.
Struggling with more than $8,000 of unsecured debt? You could be eligible for debt relief! Discover how to stop debt collector calls, freeze interest and fees, reduce payments and only pay back what you can afford. Start now with a free consultation