How to get a Debt Consolidation Loan

A few credit providers and financial institutions offer a debt consolidation loan. These are taken out by individuals who have incurred a individual debts, and a debt consolidation loan aims to help pay the debts off by paying only one major loan.

First let us explain what a debt consolidation loan is. You must remember that this is still a loan that you are taking out, but the advantage with it is that you take out a single loan in which you will now include all your high-interest loans such as credit card and personal loan and hire purchase debts.

Debt consolidation is mostly taken out by taking another home loan that will cover your existing debt. This leaves you with only servicing one loan with a possibility that the interest rate on this will be much lower. Credit providers will also be able to remove your blacklisting or judgement and clearing your credit record.

Another advantage is that if you are in danger of defaulting on your other payments, by taking out a debt consolidation loan you are able to immediately pay them off. To apply click here

You will have to realize that this will work for a few people and not everyone should take out such a loan. For instance if you will not be able to pay off this long term loan.

debt help south africa
debt consolidation south africa

28 thoughts on “How to get a Debt Consolidation Loan

  1. Pingback: Consolidate your debt using your Absa Home Loan with Absa FurtherAdvance

  2. Pingback: Debt consolidation using Standard Bank Further Advance (2nd bond)

  3. Pingback: Clear your debt with a Debt consolidation loan

  4. Pingback: Unsecured debt consolidation loan for blacklisted people

  5. C F VENTER Reply

    kindly assist me i need to consolidate my debt.i have and existing bond with standard bank.my home is worth R980000.my bond is R250000.

  6. Cynthia Johnson Reply

    would like to obtain a 2nd bond in order to consolidate my debts. my townhouse is paid up in full (cash deal). The value of the property is +- R400000.

  7. Chris Beneke Reply

    I have a current bond with Standard bank. Would like to apply for a second bond to consolidate my debts. Please advise asap.

    Regards

    Chris

  8. Belinda Van Der Westhuizen Reply

    I currently have a home loan bond with Standard Bank, I have lent money from different instituitions & i need to get a 2nd bond (loan) so that i can consoidate all of my debt. Once i have done that i will only have the home loan bond that will be taking money from my salary. I am on ITC for school fees & a woolworths account that was paid up late year (2012). I am also behind on my currunt bond amount due to the incured debt that i made. By getting a loan, paying off my debt i will be able to make a higher payment & still have substantial money left for the month. I am in desperate need of help & will appreciate any positive feedback that i can get!

  9. cynthia nomvula biniackounou Reply

    i am in need of loan that can consolidate my depts and only owe absa i have a bond house which owes 29000 and its value is 400000

  10. Thandiwe Reply

    I currently have a home loan bond with Standard Bank, I have lent money from different instituitions & i need to get a 2nd bond (loan) so that i can consoidate all of my debt. Once i have done that i will only have the home loan bond that will be taking money from my salary. I am on ITC for school fees & a woolworths account that was paid up late year (2012). I am also behind on my currunt bond amount due to the incured debt that i made. By getting a loan, paying off my debt i will be able to make a higher payment & still have substantial money left for the month. I am in desperate need of help & will appreciate any positive feedback that i can get!

  11. Shahied Sonday Reply

    Hi standard bank, I have an existing home loan and would like to apply for a further advance. I do not meet the criteria though, i am behind with payments on my cellphone and credit card. This loan would really help me get my finances back on track as I’ll only be paying my bond. Please help.

  12. marius Reply

    Good day

    I want to pay off all my debt by taking a loan by Absa bank and what is the requirements and what do you need!
    I don’t have bad debt I just can’t understand why other playses can’t help me

    Thanks
    Marius

  13. PRINCESS NONHLANHLA NZELENI Reply

    @Kindly assist me in settling my debts !I seem to be struggling to keep them up to date one instalment will make me able to sAve to buy a house.@

  14. Sbusiso Ngema Reply

    Please help me I need to pay off my debts and further my studies but first I need a job, I got matric with maths and science. 0747261071

  15. Sbusiso Ngema Reply

    Please help me I need to pay off my debts and further my studies but first I need a job, I got matric with maths and science. 0747261071. Thank you

  16. zandy Reply

    Kindly assist i.m in debt i need a debt consolidation loan to clear all my debt.

    zandy

  17. Phillip Mogomotsi Moropa Reply

    Need urgent assistance with consolidation . I have a home loan with standard bank

  18. Phillip Mogomotsi Moropa Reply

    Need urgent assistance with consolidation . I have a home loan with standard bank

  19. virginia sono Reply

    Good day,I need to know if I can qualify for a debt consolidation as I’m over indebted.

  20. Pingback: Consolidate Your Debt Using Your Absa Home Loan With Absa FurtherAdvance | Blacklisted Loan

  21. Pingback: Unsecured Debt Consolidation Loan For Blacklisted People | Blacklisted Loan

  22. Ashford Gaxa Reply

    Hey I went to oldmutual on the 3May for a consolidation loan to pay all my debit and accounts because I’m the only bread winer in the house and they could not help me because I’m imployed at the south Africa postoffice and we are block on they status I need this because I can’t come out with me monthly salary becasue I get pay today tomorrow I don’t have a cent and did not pay all my debit account can u advance me where can i go please

  23. nkosinathi mabena Reply

    Please kindly help,I have a personal loan with standard bank,and they have handed me over,need to know that if I’m done paying,can I again access it,because now I’m working again after I have been on stand for a year at work.?

  24. gillian kenneth Reply

    I have a home loan with Standard bank. and would like to take a second bond on it to consolidate my debts. can you please assist me

  25. Mpho Nkence Reply

    Please assist I need to clear my debts with application of 2nd bond as I’m currently over indebted consolidation can be great help for me I have my bond with std bank pls assist asap.

  26. goodwill mashia Reply

    hi i would like to know if standard bank can assist me by consolidating my debts or giving me a consolidation loan

Leave a Reply

Your email address will not be published. Required fields are marked *