Anyone had experience with this Company? It’s an Australian Company by the way.
What do you think about debt consolidation? And can anyone recommend a reputable company (in OZ) and what they charge, what you pay etc…
Thanks
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Have been in the banking industry for over 20 years and have never heard of this company. If you are wanting to consolidate your debt, why not go to a mainstream bank or credit union and benefit from their ability to give you a better interest rate than some obscure money lender?
i was going to go through them last year with my partner.i think they were going to charge us like an $2000 fee which we had to pay that off first.we had a $65000 debt and we were going to pay $200 a week.we decided against it as it wasnt a good time of year for us and didnt even know if we could keep up with that payment.a friend of my mums went through them and even after she had paid them off she couldnt even get a mobile phone plan in her name.i think she’s pretty sweet now though.im pretty sure it stays on your credit file for awhile.something about being a “slow payer”.
then i wanted to go through them not long ago as im single now but they wont help me because im on a single parent pension.so go figure.
I had a couple of friends who looked into them as a possible solution and they found the charges were sky high. The upside is that your creditors can’t touch you while you’re with them but you pay for it in interest and fees. Debt consolidation is a good idea, it depends what sort of debts as to which company to go with. If you have a mortgage as part of your debts could look at Aussie Homes Loans. Even a personal loan from your bank/building society can have lower fees than Fox Symes and several of my friends have taken that option.