In Part One of ‘Steps to getting a better deal with your finance’, we covered two of the six points you should consider before taking out a consumer loan:
- Work out what you can afford to borrow
- Shop around for the best deal by using a broker
Following are some other useful pointers:
- Know what you’re dealing with: Make sure you know what you are signing before you go ahead. An experienced and reputable broker will be happy to go through these details and any other questions which may arise. Check the terms and the conditions of the loan contract, including any fees and penalties if payments are missed and what happens if you choose to pay off the loan early.
- Get help if you cant pay your debts: It is important you meet the payments you are required to make but when difficulty arises, burying your head in the sand is not the best solution. Act quickly by contacting your credit provider or broker. There are many places you can go for help including financial councillors.
- Complain if things go wrong: Try to resolve any issues you can with your broker or credit provider first. If you are not satisfied take your complaint to an independent dispute resolution scheme.
More information on all of these points can be accessed at our web site which is www.natloans.com.au or calling 1300 628 562.
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