Consolidate your credit card debt

consolidate credit card debt

Getting a credit card with one of the big 5 banks in South Africa is both easy and seamless. Paying off that credit card debt can be a bit more of a hassle to than actually acquiring it! We all are feeling the pinch with our economy being so suppressed and out Rand weak, and we need a credit card to help out with those unexpected events where we need money.

Actually paying off all your credit card debt, keeping the credit in tact and maintaining the credit card is difficult as South Africans are both getting used to easy credit to begin with, credit card being a deb trap (revolving credit) and increasing their credit card limit when in a pinch. Free your life by consolidating your credit card debt!

With credit card limits able to go over R 100 000, at times being able to actually make the monthly payments on that can be overwhelming and you may need to consolidate your credit card debt on order to pay it off without dipping back into the card again and re-using the monthly revolving credit.

Debt consolidation is able to help with credit card debt, whereby your credit card debt is paid off completely and you only pay the debt consolidation loan that you take out. “But why would I get another loan when I’m already in debt with my overdrawn credit card?”, you may ask? Well, by taking out a debt consolidation loan, you will most likely get a repayment plan that will be lower than the more than 20% that credit cards often have. And, after paying the credit card debt and taking out a loan you will actually manage to close the credit card completely without losing the benefits of a clean credit record.

You’re also able to add your other debts, e.g., clothing accounts, into your debt consolidation loan and close that one, too!

Apply for a debt consolidation loan and clear that debt that holds you back from so much more in life!

consolidate credit card debt
consolidate credit card debt

Pay your credit card debt

Are you losing the battle to pay off your credit card? Do you keep paying without making a dent in your credit card debt? It’s time to close your credit card for good by taking out a debt consolidation loan and paying off your entire credit card and paying lower interest rates!

A debt consolidation loan is a loan that you take out to pay off debt that has high interest rates like credit cards. Check how much you’re paying off your credit card and request a lower interest rate from us by applying for a debt consolidation loan.

Credit card payments may take you over two years to pay off the debt you incur, and that includes all the fees and interest they charge you. You may feel like there’s no more you can do about your debt, but a debt consolidation debt may be your answer.

There is a qualification process to go through, but that doesn’t take long at all. Apply today and save on a lot of money you may have had to pay later!

debt-free with debt consolidation

Get debt-free with a debt consolidation loan. Are you disciplined enough to take on a debt consolidation loan? Debt consolidation can help people who are in debt to take back their financial lives!

Getting a debt consolidation loan is easier than it looks, with just a few things to consider first:

  • Are you a home owner?
  • Do you own any other assets?
  • Are you fully and permanently employed?
  • Do you receive your monthly salary in a bank account?

Then you stand a chance of securing a debt consolidation and start living a debt free life.

One of the first things you will need to do when you get yourself a debt consolidation loan is to change your spending habits by drawing up budgets and sticking to them. It sound easy but this is the first thing that can trip people who have just qualified for debt consolidation loans.

Debt Consolidation with Nedbank

Nedbank offers debt consolidation loans, debt management plans and other financial planning tools. But specifically to get yourself a debt consolidation loan with Nedbank, whether you’re a client of theirs or not.

First debt consolidation loan you can get is by applying for their credit card in order to do a balance transfer. You can apply for credit card such as a green back card and transfer balances from other banks into the Nedbank credit card. Or more like pay off everything else and pay off this card at the current advertised rate of 3 to 36 months at an interest of 13.4%, but of course do read your terms and conditions.

Secondly try this method of Nedbank debt management: If you have property that you can put up as collateral, why not apply to re-mortgage your home. This way the extra money that you get you can put into your home. Although this is a risky move, as you will essentially be pushing your debt into another debt vehicle, you can pay this off quicker and with lower interest rates. If you increase the amount you pay per year you can pay this debt off safely without having to get into trouble with the credit regulators.

Tip: apply for debt consolidation with as many companies as you can and match their interest rates and terms.

Apply here for your debt consolidation loan!

Getting a Sanlam Debt Consolidation Loan

This website talks at length about how a debt consolidation loan works, and Sanlam, like other financial services providers, is able to offer you a debt consolidation loan. Sanlam debt consolidation loans work through your home loan.

So how are you able to get a consolidation loan from Sanlam? Through re-financing your home. If you own your own home you will be able to re-finance your bond and use that extra cash to pay off big ticket items such as high interest especially at the current 2013 interest rates. This can also include the furniture you bought on hire purchase, you can pay them off and reduce your payment on them.

Are you able to be financially disciplined enough to take on a debt consolidation loan? Because that is the advice Sanlam debt consolidation loans demand, or any other consolidation loan for that matter. But unlike other companies that offer debt consolidation, Sanlam really thinks you should give it more thought. This is because a debt consolidation loan is a great tool if you use it properly. Now, I’m certain you have said to yourself that you will surely take better care of your financials and not come close to ruin again, but discipline is more than just making a promise to yourself and it is about actually changing the way you deal with money.

As always, it’s good advice that you apply with more than one lender so as to compare rates. You can be successful with one debt consolidation loan but fail with the other, so read up on how you can qualify.

Debt Consolidation Port Elizabeth

Struggling to find debt consolidation loans in Port Elizabeth? The Friendly city not so friendly towards your dream of consolidating your debt? Apply here online for debt consolidation and get help with your debt from anywhere in the country. How will debt consolidation help you? Debt consolidation will help you pay those high interest debts by getting you one loan with much lower and longer term loan.

So, even if you are in P.E. you can get help lowering payments on:

  • STORE CARDS
  • CREDIT CARDS
  • PERSONAL LOANS
  • BANK OVERDRAFTS
  • HIRE PURCHASES
  • BONDS

Debt consolidation loans can also help you get lower your risk on getting a bad credit record by paying off that loan you struggling to pay and already are late on.

You can get a secured debt consolidation loan or an unsecured debt consolidation loan, depending which one you are able to afford. Remember that you will have a debt consolidation loan is an actual loan so you will still have to be credit worthy to be approved for a debt consolidation loan.
If you do not qualify or are just too far with your debt, you can apply for debt help here, where you can apply for debt review and debt counselling.

Capitec Bank personal loans

Get up to R 230,000 personal credit with Capitec Bank. Capitec Bank offers its customers who are on its Global One product to apply for a personal loan of up to R 230,000 and pay it off in 84 months. You can get a loan within 20 minutes of application. The bank will also contact you to tell you whether you have been approved or declined for the personal loan.

What do you get with this?

  • The money will be available in your transaction/savings account immediately after approval
  • Fixed monthly repayments
  • You are able to consolidate all your existing loans for easier using this loan
  • You also get Free retrenchment and death cover from Capitec Bank

When applying for a Capitec Bank personal loans please remember:

  • Your South African ID book
  • An original proof of residence such as your municipality bill
  • Your latest salary slip or salary advice
  • A 3-month bank statement

Capitec bank also prides itself on being transparent and they publish how much you will pay for their loans. Here is a list of examples of loan repayments: http://www.capitecbank.co.za/personal-banking/credit/rates

To Apply for a personal loan click here

Absa debt consolidation promotion 8.8 % interest

Absa Bank is running a promotion where you can get an Absa debt consolidation loan with them by consolidating your debt onto your Absa credit card. You could qualify to pay an interest rate of only 8,8% for the first 8 months with your Absa consolidation. The offer will end 30 June 2013, and as usual please read through and understand their terms and conditions for taking their consolidation loan.

If you don’t have a credit card with Absa, you can still apply for the credit card to enjoy this debt consolidation loan, but you will be charged an initiation fee and monthly service fee. Find out more about this promotion by going to http://www.absa.co.za/Absacoza/Offers/Promotions/Balance-Transfer or by calling 0861 46 22 73.

There are other ways to get Absa debt consolidation. Absa Bank is considered to be one of the four big banks in South Africa, and just like the other banks you can get an Absa debt consolidation loan through their Absa Further Advance product.

Apply online for a debt consolidation loan

When you apply for a debt consolidation loan, there are a few thing that websites ask for when you apply for a debt consolidation loan online (keep this information handy when you apply):

  • Whether you are blacklisted
  • Your personal information such as marital status and ID number
  • You banking details, including your bank account details
  • Employment details such as employee number, frequency of salary
  • Income. Gross/Nett income, expenses (calculate these carefully)
  • Spouse/next of kin information. This is to verify other information

As always with loans, you should have the following documents:

  • South African ID
  • Salary slip
  • Proof of address
  • 3 months bank statements

Before all of this is sent out, make sure that you have agreed to their terms and conditions, and you are happy with the interest rate that they will charge you. Getting a debt consolidation loan can be can be simple, and how you can get it is also explained here.
To apply please go here!