The credit bureau in South Africa plays a vital role in the credit industry. So what exactly is the function of the bureau? The main objectives of this institution is to gather consumer information and update each individual’s credit history accordingly. This information is then used to put together a record of each consumer’s debt use – how each user manages their debt and credit. With spending habits, missed payments and flags like those for debt review, this is an indicator to other lenders or credit providers of the level of risk associated with lending to you as a consumer.
A complete record of your credit use over the years, this is vital information when having any dealings with credit. From credit card accounts to home loans, the information gathered by the credit bureau in South Africa dictates the likelihood of you getting a loan from a registered provider. Contact Quick Consolidation Loans today to find out more.
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.