Consolidating debt in south africa
Secured loan: This can be an excellent way to get low interest loans for bad credit.
You’re essentially securing the loan by attaching an asset to it, greatly reducing the risk to the lender thereby reducing your interest rate.
The consultant will only need a few documents from you, after which they will contact financial institutions and provide reasons for your suitability to debt consolidation.
There are costs pertaining to debt consolidation, but they are not significant when you consider the money you will save from consolidating your debts in the long run.
Now you can have everything you’ve ever wanted at, seemingly, little cost – but the debt is mounting and the bill is coming.
Here are some of the things which may have been purchased on credit to push you into a tight spot: As to how common this issue is and whether it’s isolated to you, consider the origin of the global recession in 2009.
Marketing has us exposed to an increasing amount of items to purchase and credit methods which will allow us to do so.
Basically, paying off the balances of all the other loans.
Although it’s illegal, some of these debt collection companies will add nonsensical bills to your owed total – charging you every time that they have to make a call, whether they reach you or not.
If you feel like you’ve lost control, that these collection people are mishandling your account and costing you more money, a debt consolidation loan is one option. Home Loans: Many financial experts will tell you to use your home loan (should you have one) due to the low interest attributed to it.
To find out if debt consolidation in South Africa is an option for you, contact Debt Busters today.
Debt consolidation is a viable financial solution designed to simplify multiple debt repayments and, under some circumstances, save the debtor money.