At Quick Consolidation Loans, we provide our clients with unsecured debt advice that helps them on their journey to financial freedom. The most important thing to remember is that unsecured loans aren’t tied to assets – like houses or cars – that can be seized if the loan isn’t repaid. However, unsecured loans are hardly without risks. Failure to pay your unsecured loan can result in severe damage to an individual’s or business’ credit rating, making it difficult to obtain credit again for a substantial amount of time.
Unsecured debt is any debt that is not tied to an asset, like a home or automobile. This most commonly means credit card debt, but can also refer to items like personal loans and medical debt. Unsecured debt typically creates less stress and fewer problems for consumers than secured debt because they don’t stand to lose an asset if they don’t repay the debt.
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We will be able to offer advice on the suitability of debt consolidation to your specific financial situation, as there are instances where it would prove unsuitable. Our consultants will be able to help you with regards to secured and unsecured debt consolidation, and advice as to which would be most favorable to your outstanding debts. Operating on a national basis, we can also provide you with debt counseling or a debt review in South Africa. As mentioned, debt consolidation could save you on monthly payments and interest rates, which has made it a viable option for many. To find out if debt consolidation in South Africa is an option for you, contact Quick Consolidation Loans today.