The logic behind debt consolidation loans may seem sound and this type of borrowing can make great practical sense, but you need to beware of the pitfalls that could make it go very wrong. Small loans, payday loans, overdrafts, store and credit card deficits can all charge extraordinarily high rates of interest, while the very best rates are usually only available on bigger loans.

This means that combining all your debt into one consolidation loan could reduce the overall rate you pay, and possibly reduce the overall amount even if you pay over an extended term.

After receiving a grant from a government agency, you’re expected to meet the required obligations, which are submitting progress reports on projects or activities to which the grant was first used. A popular type of these grants is the scholarship grant.

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For most people it's about saving money and getting back in control, and the black-and-white financial sums are easy enough to work out.

More difficult to deal with are the intangible factors which are related to knowing what sort of borrower you are.

If you think that getting a debt consolidation loan is the best option, think again. With free grants from the government, you can have the funds for paying off your debt without incurring another debt.

The best thing about these funds is you don’t need to pay them back. A grant is a kind of gift that requires particular obligations in the grantee’s part at the same time an expectations in the grantor’s part.

On 2 December, 2014, found that only 28% of the 126 unsecured personal loans listed on the matrix of independent financial researcher Defaqto had no fee for early redemption of the entire loan.

Make a list of all your existing debt and check the small print, then factor any additional costs for repaying early into your sums.

Unlike debt restructuring or consolidation where you must take out a new loan to pay your creditors, we simply enable you to make one convenient monthly payment to ACCC instead of making multiple payments to creditors.

We then disburse funds to your creditors on your behalf.

Government grants are one of the best debt relief options.

Even though grants are not as popular as debt consolidation loans they are available to individuals. They are right for you if you’re deep in debt and are looking for a source of fund for paying off your debt — if you’re eligible to apply for this financial assistance.

UPDATED (Nov 11, 2013) – Notes added on: Conversion Triggers section & attached Cap Table in folder updated to v2 to fix some bugs.