Online stokvels are a common route to saving amongst a community or like-minded people, lumping their money together for a common goal – to save. Whether trying plan a trip abroad, buy groceries or for funeral services in times of hardship, this is a bulk payout that contributors can use to cover their expenses. Whatever that may be. It is money that goes into a common pot for all to access when needed. Everybody involved knows the details of the online stokvel, as it is mainly a savings solution for consumers by consumers.
As a legitimate stokval, the investment must be a member of the National Stokvel Association of South Africa (Nasasa) or a similar body and conform to its rules and regulations. The guidelines allow this system to operate within the law, unlike the MMM scheme.
While still a style of saving that many are skeptical of, many have a bad reputation of not paying out in time, or at all.
For more information or help with your consolidation loans, contact Quick Consolidation Loans today.
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.