Debt consolidation loan can help you combine all your debt like personal loans, short term loans, store cards, credit card, overdrafts and other debt into one single monthly installment. Plus we can negotiate a better interest rate to bring down your monthly repayment. “Blacklisted” Yes we can help you as well. Our Debt Loan go up to R 300 000.00 with terms up to 72 months.
What is a debt consolidation loan?
Struggling to pay your monthly commitments or having affordability issues when applying for credit. This is were a debt consolidation loans helps. You combine your debt into one reduced monthly installment, with a lower interest rate. This making you more affordable for credit or finance in future and the balance of the loan after your debt is settled is paid out to you.
Why would you need a debt consolidation loan?
Having difficulty paying several loans and other debt monthly. So with a consolidation loan you can take all your outstanding debt and combine them in one more affordable and manageable monthly installment. This can also help reduce your interest you paying on all outstanding debt and reduce the risk of skipping payments and getting blacklisted on the credit bureau, which could have a major effect on your credit worthiness. We can help you with a Debt Loan of up to R 300 000.00 over a period of 72 months.
Is this debt review?
No with a consolidation loan they pay up your accounts and you pay the lender back monthly, with this type of loan you get the balance left over after they settled everything out in cash. With debt review they negotiate a reduced installment over a longer period, lowering your monthly instalment but it could take years to pay the debt off.
Can I get a debt consolidation loan if i have bad credit or blacklisted?
Yes you can get a loan if you blacklisted. This will depend on many factors but we always try our best to assists our clients and advise a way forward if we can’t help.
Qualifying criteria
In order to qualify for a debt consolidation loan you need to meet the following criteria:
- You have to be 18 years or older
- Earn a minimum income of R 4000.00 per month
- Have debt in excess of R 20 000.00
- South African ID
- Bank account from which a debit order can be deducted