Yes, we do check your credit rating. This is to ensure that you are able to afford the loan and will be able to pay the credit back. We at Quick Consolidation Loans pride ourselves on responsible lending as we do not want our clients to struggle with debt repayments.
With us checking your affordability, we ensure that once you get the consolidation loan your credit score looks better than what it was before you come to us for assistance.
The positive effect that debt consolidation can have on your credit score is that several accounts will appear to be paid off. Even though debt consolidation creates a new credit account, credit providers consider the other account paid in full.
Paying back your credit on time will also have a positive effect on your credit in the long term.
We also have to do a credit check to see if you were blacklisted in the past. This will help determine if we can assist you and if there is a solution.
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.