What happens to interest rates during debt review?

Interest rates are typically reduced as part of the debt restructuring negotiation. Common outcomes include:

• Unsecured debt: Often reduced to 0-5% from typical 20-30%

• Vehicle finance: Reduced to prime or below (currently around 11-12%)

• Home loans: Typically remain at or close to the original rate

• Store accounts: Often reduced significantly or frozen

The exact rates depend on negotiations with each creditor, but the overall effect is usually a substantial reduction in the interest you pay over the life of the debt.