eCentral Business Show©

Valuable insights from business experts.


What is debt consolidation? - Laura Sillano, Pod Financial

Wed 3:35pm 14 Feb 2018
Podcast Audio


Laura first corrects the misconception that debt consolidation is a 'bad thing' and then explains what debt consolidation is and how it works. Debt consolidation means taking a new loan to pay off numerous other debts such as car loans, credit cards or ATO debts which are paid off in a much shorter period of time. Hence, extending its running period up to thirty years, giving the borrower more time to pay it off and at a lower interest rate than it was initially at.

Laura also tackled the reason why people do debt consolidation and why banks offer such services. In addition, they talk about how Laura has helped countless people in utilising this smart strategy to achieve what they want to do next. The main thing that Laura looks for from someone who wants to do debt consolidation are the following: first, is how they plan to avoid it from happening again, second, is if it would be of benefit to the borrower. In general, debt consolidation should be a launching pad for future savings.

To get on top of your debt, or to learn more, you can contact Laura Sillano through mobile at 0422320497 or e-mail her office at home@podfinancial.com.au.


Meet our resident experts

Robert King

Robert King

Accountant

Robert is a fully qualified Chartered Accountant, Registered Tax Agent & Xero Guru. He spends his time helping clients through all stages of the business cycle from setting up a business through to its eventual sale.

Laura Sillano

Laura Sillano

Mortgage Lending

Laura is a Residential Mortgage Broker with over 11 years experience. She is passionate about educating her clients about their options, and provides mortgage lending advice that is grounded by life experience.

Helen Baker

Helen Baker

Financial Planning

Helen Baker, founder of On Your Own Two Feet, is an experienced financial adviser and firmly believes in the benefits of having a strong team of professionals to underpin your financial foundations.



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