How can debt consolidation help you become debt free

For people needing credit help, debt consolidation could be the solution on how to get out of debt, debt consolidation is the process whereby all your debt loans are put in one, Our company can consolidate all your debt which is owed to different credit providers into one single debt with a single monthly repayment at reduced interest rates. Instead of paying multiple credit services, you now only have to make one reduced monthly repayment for all your debt. As part of our free debt assessment, we will assist you so that you pay only the minimum amount which is required by your credit providers thereby reducing your monthly debt obligations, if possible at zero interest and freeing up cash so that you can maintain your quality of life.

They wanted to repossess my car. I felt terrified that my family would without a family car. Credit check helped us to KEEP OUR CAR

My wife was too sick to work. I couldn’t support my family and pay all our debt. We felt helpless! Credit check REDUCED OUR DEBT REPAYMENTS by consolidating all my repayments/debts in to one payment.

The only way to pay my debt was to take out another loan from bank such as Nedbank and African banks who all declined me for a consolidation loan because of my bad credit. I felt trapped. Credit check SAVED ME from a never-ending debt spiral” they consolidated my arrears.

After i got assistance with reducing my debt from credit check, all creditors stopped calling me.

What is debt consolidation and how can it be of assistance to me and my debts?

Debt consolidation is a type of refinancing of debt in to one payment. Unfortunately for high risk people debt consolidation loan might not be a solution due the bad credit, reputable creditors such as capitec, african bank and standard bank won’t even look at an application if your credit history is bad. Debt consolidation(without a loan) is for people who are struggling to repair their debt. We arrange with lenders to let you pay one reduced instalment, and then you can pay all debts in one payment..                                                                                                                                                                                                                                                                         
Drawbacks
If you are struggling with debt repayments and fall into arrears it is unlikely you will qualify for a debt consolidation loan. If you do qualify, the loan is usually offered at a high interest rate.                                                                                                                                                                                                                                                                     
Alternative option
As shown above, debt consolidation loan can be an expensive option at certain time even impossible to qualify if you are already over indebted. You may also find you take on additional debt whilst paying of the consolidation loan. This just compounds the debt problem. A better option for you may be debt counselling. We will take all your debt, We can also negotiate the lowering of your interest rates so that you can pay less. Once all repayments are made you are issued a clearance certificate and declared debt-free. Creditors are also not allowed to hassle you while you are under debt review.

 

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