For many South Africans, the struggle to avoid crippling debt is a real one. A recent financial survey found that roughly five million South Africans are in debt. That means that 14% of the population over the age of 16, are battling with over-indebtedness. This problem arises from short-term loans that come in the form of personal loans, store credit and credit cards. Short term loans generate high interest, and after a while, the compounding effect of the interest eats into disposable incomes all over the county. A way to solve this problem would be with debt consolidation loans in Durban.
Debt consolidation loans help consumers reduce the amount of interest and monthly charges that they are paying on their debt. At Quick consolidation loans, we understand that you are battling to keep track of your debts due to it being spread across a variety of loans and accounts. We also understand that you may be unable to meet the monthly payments required, or you would like to find a more affordable monthly rate. Therefore, we offer debt consolidation loans in Durban that you can use to pay off all of your other loans, leaving you with one loan amount and payment every month.
Debt consolidation loans, however, are only available to people who meet the normal credit criteria. This means that if you wouldn’t qualify for a loan at a bank, under normal circumstances, you will not be able to access debt consolidation loans either. An essential requirement is that the consumer has to be employed on a full-time basis.
If you are struggling to keep your head above water, apply for one of our consolidation loans. The process is quick and easy, and you can do it in the comfort of your own home.
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.