Break Your Debt Cycle With Quick Debt Consultation Loan
Unfortunately, the majority of South Africans are trapped in the cycle of debt. There is really no escaping it. We all know that to acquire some items in life like a house or car you will have to make debt.
There are some items that we need that we can control and that is clothing accounts, cell phone contracts, credit cards, and appliance store accounts. The best way to stay out of debt is to manage your needs over your wants and also to learn how to manage your money wisely.
Old Mutual provides a free online money management course that anyone can take once you have signed up to the website. If you are struggling to manage your money then I will recommend that you take this course.
Do you want to know if you qualify for a debt consolidation loan?
One financial company that assist applicants with debt assistance is Quick Consolidation Loans.
Quick Consolidation Loans operate across South Africa. They provide applicants with debt counseling and with debt review and will review if you are a candidate for a debt consolidation loan.
Quick Consolidation Loan Gives Advice On The Following:
- Avoid legal action from credit providers
- Give you the advice to prevent from getting blacklisted
- Arrange that you make one affordable payment each month
- Quick Consolidation deal with credit providers on your behalf
- Assist you in breaking the cycle of debt
- Loan amounts from R10 000 up to R150 000
- Offers repayments terms from 18 months up to 72 months
- Offers a fixed interest rate from 9.95% to 30.00% APR
- Contact Quick Consolidation Loan online for assistance
What is a Debt Consolidation Loan?
A debt consolidation loan is not like a personal loan. You will not have access to the money. A debt consolidation loan does not add extra debt to your account. Your debt is bundled into one amount and the debt consolidation loan is used to settle that amount.
Your debt consolidation lender pays off your existing debt this might be store accounts, credit cards any other cash loans or accounts. The lender might offer you a better interest rate and an extended period to pay off the loan.
This means you will take longer to pay off the loan. You will have to remember the longer you take to pay off a loan the more money it will cost you.
Note the following:
- When your store accounts, credit card or cash loans accounts are settled with the debt consolidation loan it does not mean your accounts are closed. The accounts will still be open. It is recommended that you close the accounts to prevent any further debt.
- A Debt Consolidation loan can also cost you more in the long run. This happens when the loan is extended over a longer period of time. This will assist you in saving some extra cash monthly. You will have to remember the longer you take to pay off the loan the more interest you will pay. The best way is to look at all your options and make it as affordable for you and make sure that you will be happy with the repayment options.
The best advice is to keep a budget and stick to your budget and avoid the temptation of spending money on unnecessary items.