Debt Consolidation is a debt management tool that reworks your multiple debt accounts into one, affordable, repayment plan.
We will assist you to consolidate your debt effectively and safely, as a way to fully restore your finances and to help you out there who are in a serious struggle to keep up with your debt obligations.
With our help, your debt repayments are consolidated and reduced as to facilitate you to get your debt back under control while paying for your essential living costs.
Debt consolidation is the process whereby we assist you to consolidate all your debt which is owed to multiple credit providers into a single debt with a single monthly repayment at reduced interest rates. Instead of paying multiple credit providers, you now only have to make one reduced monthly repayment for all your debt.
You can speak to one of our consultants within one business hour of sending us a call back request or you can phone us anytime within business hours. The consultant will guide you through the process, explain how the free assessment process works and be able to confirm whether you would qualify for restructuring your motor vehicle monthly payment or if you qualify for a cash loan
You will never pay us directly. Instead, you will pay your monthly payments to the bank that has approved your application. You are therefore ensured of complete trust.
The extent to which we can reduce your monthly repayment amounts depends on the type of name you have in the bank, how strong you are in the bank, and how over exposed you are with the credit that you have. On unsecured loans, it is however possible to reduce debt repayments to this extent. If your debt therefore consists of only unsecured loans, we can do the same for you.
You need an amount to be paid out to you, equivalent to all your debts together. You need this amount in order to settle all your debts and pay one amount per month to one institution and save a big amount per month. With the extra money you can in return pay more than your agreed repayment and in this way you can settle it all in a shorter time period, this will insure your credit rating going up every month as well.
You have to make the following calculation for yourself, here is an example for you:
MY TOTAL DEBTS
Debtor 1* Total R12 000.00
Debtor 2* Total R10 000.00
Debtor 3* Total R22 000.00
Debtor 4* Total R50 000.00
Total R94 000.00
MY REPAYMENTS PER MONTH
R900.00 per month
R1000.00 per month
R1100.00 per month
R2500.00 per month
R5 500.00 total repayment per month
You will need on the above example a total of R94 000.00 to consolidate all your debts
Your repayment on the R94 000.00 depending on the rate will be +- R1 900.00 per month. There for you will consolidate all of your debts and will have a saving of R3 600.00 per month based on the above example
Please note terms and conditions apply
DISCLAIMER: The content of this article is for informational purposes only and should not be considered as financial advice. Readers are encouraged to consult a financial adviser with any questions or concerns they have regarding their personal finances.