Home Repossession Over a Small Debt

debt consolidation loans

19 May 2010

Recently the Queensland Government threatened to seize a Brisbane woman’s home to recoup a debt of $6151.00.

 

It is part of several measures the Queensland Government introduced to recover unpaid fines, with more than $160 million outstanding.

Letters warning of property seizures have been sent to 11 individuals and 4 businesses in QLD, in a bid to recoup $257,000 in outstanding fines since a trial of the strategy began on January 1 2010.

Asset checks are undertaken on fine-defaulters, allowing the Government to seize property including homes and cars to pay back debts.It is imperative that people take from this, the importance of paying all debts on time. If you leave your bills and debts unpaid, you’re not only facing defaults and marks on your credit file; it could lead to your home being repossessed, irrelevant of the size of the debt.

If you are overwhelmed with the numerous debts that you have to repay every month, then it is probably time for you to get a debt consolidation loan.

A debt consolidation loan is the process of taking multiple loans and debts and combining them into a single loan (a debt consolidation loan). A debt consolidation loan can help you save money by reducing the amount of interest you pay, reduce repayment periods and improve personal cash flow.

A debt consolidation loan can also make your time spent paying bills and debts a lot simpler, as you only have one repayment to make each month, fortnight or week instead of many.

The Australian Lending Centre is a specialist in debt consolidation loans, and has many debt consolidation strategies on offer. We offer free debt assessments on all enquiries with no obligation to move ahead with the debt solutions that may be available to you.

Our main focus is to save you money through consolidating your debts. We will check to see how much you can afford to repay, and which debt consolidation strategy will best suit your financial situation.

To speak with a debt consolidation consultant today, call 1300 138 188 or simply fill out our express enquiry form to the right, and a debt consolidation consultant will contact you shortly.

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