So You Know Podcast - Debt Consolidation

Debt consolidation: Simplifying and managing your finances in one loan.

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In the debut episode of So You Know, UNO Broker Karis Churchill joins Vincent Turner to discuss debt consolidation. They delve into many topics including what debt is and its different types, including secured and unsecured debt.

Karis walks us through debt consolidation - the process of merging multiple debts into one loan - giving you better control and simplification of finances.

The main drivers for debt consolidation are the desire for easier management of multiple payments and the opportunity to save money on interest rates. Karis also shares strategies for structuring debt consolidation loans effectively, such as using cash-out refinancing to pay off debts not in the borrower's name.

"Debt consolidation can help bring all your existing debts into one loan, giving you better control of your finances. It allows you to move high-interest debts to lower interest rates, saving money and getting out of debt sooner."

Karis Churchill is a mortgage broker at UNO, Australia's online mortgage broker. With extensive knowledge and experience in debt consolidation, Karis helps clients simplify their finances and take control of their debt.

Key Takeaways:

1. Debt consolidation merges multiple debts into one loan, simplifying finances and providing better control.
2. Consolidating debt can save money on interest rates and help borrowers pay off their debts sooner.
3. Structuring debt consolidation loans effectively involves using cash-out refinancing and splitting loans to pay off debts with different terms.

So You Know - a Finance and Property podcast by UNO

You’re listening to ‘So You Know’ - a Finance & Property podcast by UNO, Australia’s Online Mortgage Broker - where we deep dive into a single aspect of home loans in under 15 minutes so you’re better informed and can make better decisions when it comes to your property and your home loan.