Step 1: Gather information about all your debts To take control of your debt it is essential to know how much debt you have.
Review your statements and work out the following: Step 2: Work out how much you can put towards paying off your debt each month Next, it’s good to know where your money is going and how much you have coming in.
In both cases, you will likely end up incurring more interest over the long term compared to other options. If you are finding your debt difficult to manage, the earlier you take action the better. Some of the ways we may be able to help Westpac customers include: If you are a Westpac customer and experiencing difficulty making your loan or credit card repayments, please call Westpac Assist on 1800 067 497.
To find out if debt consolidation is the right approach for you, you should consider getting independent financial advice.
Complete applications (including all supporting documentation) must be submitted in store by 2pm Monday-Friday.
Same day funds will be unavailable if your loan purpose is to refinance NAB debts or if NAB requires your application to be reviewed by a lending specialist.
Get your salary paid into the account to establish a transaction history. This won’t guarantee approval on your application but, it will help us understand your financial position better. Set up a regular savings plan Show you can afford to service a loan by saving a set amount regularly (every week or month).
Check how much you can borrow Use our Borrowing Calculator to get an idea of how much you may be able to borrow. Build a good account history with us · Got a NAB account? Open a transaction account and pay your salary into it to start your transaction history.
Different amounts and terms will result in different comparison rates.That means repayments are calculated so that at the end of the loan period your debt is cleared.By combining multiple debts into one easy to manage personal loan you can potentially: Read more about our personal loans.Remain focused by putting a plan in place to pay off the entire balance during the interest free period.You should also consider cutting up your old credit cards so you don’t end up in more debt.
This is generally the best option for consolidating credit card debt.