If you’re considering a debt consolidation loan then please do read on as this particular of loan is not for everyone. People do get rejected for this loan sometimes because they are much, much further in debt than what a debt consolidation loan will be able to repair. Those are the people who should consider getting help with their debt with debt counsellors, but let’s have a look at how this can be a rescue plan.
So, what is a debt consolidation loan?
Well, it’s a NEW LOAN! You are taking a out a new loan whilst hoping to get these benefits:
lower interest rates
same loan amount to pay off every month
to pay off higher interest loans off
pay off a big item so as to not pay compound interest on it
avoid being blacklisted or get a bad credit history
pay one lender like your personal loans at one go
So, how does it work?
Well, you actually get a loan from a website like ours. You can get a loan for over R 100 000 and pay off your loans or go on a holiday, doesn’t matter what it is that you use this low interest loan for. If you are approved you get to pay off your loans with the loan that gets paid into your account, and then you are able to breathe a bit easier by making sure you pay off one loan over a much easier loan term. Please calculate how much you owe your creditors first and apply for a debt consolidation loan today, and find out what the loan terms are.
This loan has been sidelined because people think it’s a waste of time because it moves debt around, but if you actually work this smartly and take care to change your spending and borrowing habits, you can actually control your debt with a debt consolidation loan.