Debt Consolidation Loans – what will stop you.

When overwhelmed with a multitude of debts, you might think about a debt consolidation loan.  Debt Consolidation loans are not a sure thing.   You don’t have a statutory right to finance.

If your debts are above $50,000 and you don’t have property with equity to refinance, you won’t get a loan.

If you have any kind of default these days (even $100.00 electricity bills), you wont get a loan.

Don’t have a full time job? Or only been with your employer for a short period of time. You won’t get a loan.

Owe any “non-bank lenders” eg Cash Converters, Fast Access Finance? You won’t get a loan.

With bank lending more cautious than ever, unsecured debt consolidation loans are difficult to come by and it’s important to be aware of what else you can do to break free of your debts.