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Is a debt consolidation loan right for you?

Have you heard the phrase, “don’t put all of your eggs in one basket”? It’s usually a cautionary tale to not put all of your resources in one place at the risk of losing them. However, sometimes it just makes sense to put your eggs in the same basket. Who wants to go around carrying 10 different baskets?

When it comes to your debts, keeping up with all of the different due dates can leave you feeling scrambled. Rolling them all into one, easy-to-manage loan just makes sense. If you’re struggling to juggle all of your different debts, a debt consolidation loan may be the best solution for you.

Our debt consolidation loans are available for up to $12,000.

When is a debt consolidation loan a good idea?

When contemplating consolidation, there are a few factors you should consider. This includes the size of the loan, how much the repayments will be, as well as the fees and interest involved. This is where you weigh the pros and cons. At Gedda, our debt consolidation loans are available for up to $12,000. We also ensure that the repayments will be affordable and fit into your budget.

Consider your other options

Debt consolidation loans are not for everyone. It entirely depends on your unique financial and personal situation. Some alternative solutions may include:Chat with your credit provider to see if you can reduce your repayments or extend your loan

  • Consider refinancing your home loan
  • Look into a credit card balance transfer
  • Speak to your credit provider about their financial hardship options
  • Seek debt mediation services
  • Get in touch with a financial counsellor

Want to take out a debt consolidation loan?

In any situation, taking out a loan isn’t something you should do on a whim. While money and debt can be quite an emotional issue for people, it’s important to take the emotion out of it when making a decision. If you’ve sifted through all of your options, and a debt consolidation loan makes the most sense for you, Gedda Money can help.

Our loans are specifically designed for people who have had credit challenges in the past. If you want to know if our loans are right for you, get in touch! We look forward to hearing from you soon.

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