No matter what stage you are at in your financial journey — whether you’re just starting out and are looking to buy your first property, or whether you are ready to tackle your debt and want to move into a new financial phase — we can help you. Understanding how to make debt work for you can be intimidating, but when you have the expert guidance of a Mirador Wealth financial debt expert, debt doesn’t have to be daunting.

At Mirador Wealth, our debt advisory services are designed to help you get out of debt. By having a clear understanding of your current financial commitments and plans for the future, our experienced debt advisors can help you reduce debt and take steps toward achieving the future you want.

With banks and lending institutions eager to push their credit facilities, it can seem a little too easy to borrow money these days – which means that it’s even easier to fall into debt. Our local debt advisors provide strategic debt solutions to help you get out of debt fast, and work with you to help minimise bad debt and maximise good debt.

If you’re currently in some bad debt or are looking for a way to restructure your finances to get out of debt quicker Mirador Wealth can help you find an efficient and financially secure way to reduce your debt.

Our Financial Advisor Debt Management Experts Can Help You

Our debt advisory service works in a variety of ways, whether you’re looking to invest in an asset and want advice, or need financial advisor debt help to structure repayments and get out of debt faster, Mirador Wealth can provide you with expert advice and solutions to help you!

What Does Good Debt and Bad Debt Mean?

The simplest way to answer this is to say that debt is good when it is working with you to help build your wealth. A good debt might be something like an investment property loan, some margin lending, or any kind of debt that is tax deductible like investments, shares or business.

Bad debt is any kind of debt that isn’t efficient and that doesn’t provide a return or income. We categorise debt as bad when it costs money – through interest or repayments – but doesn’t help to build long-term wealth.

How Our Debt Advisory Service Works

At Mirador Wealth, we work with you to establish a relationship that is based on improving your financial future. What this means is that we gain a thorough understanding of a range of personal and financial factors that impact on how you invest, save, and plan for the future. Then we develop a plan for debt management which is based on this.

We don’t provide any ‘off-the-shelf’ or ‘cookie cutter’ debt management services as we know that there are huge variations from person to person which dictate how able they are to save and spend their money.

We work hard to make sure that your debt is working for you and not against you. We can equip you with the strategies and solutions that you need to get the most from your debt.

What We Offer

When you come to see us you will enjoy comprehensive training around what is good debt and what is bad debt. We will work with you to make your financial situation as efficient as possible. Where appropriate, we look to utilise debt recycling strategies, to minimize your bad debt and maximise the good debt, whilst always ensuring that you have the ability to repay.

What is debt recycling?

When we use debt recycling, we are talking about a strategy that involves you reducing bad debt while you increase your good debt, in an effort to grow your wealth faster.

An example of a debt recycling strategy might be to:

• Use the equity in your family home for an investment (but this does mean your home is being used as security and may be at risk).
• Take the money borrowed from your equity and use it for some good debt – like buying an investment property or investing in shares.
• With the income you get from your investment, you can pay off your home loan faster every year.
• Then, you increase your equity investment loan by the same amount you’ve paid off your home loan and reinvest it.
• Repeat until the deductible loan replaces the non-deductible loan.

Debt recycling may not be for everyone, and we always ensure that your risk profile is such that you aren’t going to be uncomfortable with using the equity in your home. This is just one instance of how you can use debt recycling to benefit your financial future. There are various other ways of managing your financial condition to maximise your benefits. When debt is concerned, it’s always best to take a proactive approach in managing it and shrinking it as quickly as possible.

Mirador Wealth Debt Advice

If you are struggling with credit card debt, mortgage or other bills piling up, don’t ignore it. For financial advisor debt management, we can help you. Make sure that you take action now to reduce your debt!

Call our team on (02) 8014 5889 today for actionable debt advice in Sydney that’s relevant to you.

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