A registered stokvel is a monitored, community savings system that can allow for quick savings when you need it. A group initiative that sees members put in a defined amount each month, the plan then pays out the full amount to one member each month, or when you need it, depending on the rules of the stokvel.
The National Stockvel Association of South Africa, or NASASA, is the regulatory body that registers stokvels in line with the legal guidelines. These registered stokvels allow users to have increased trust in the plan, knowing there is a higher power keeping schemes at bay.
Whether looking to invest or lower monthly debt, pay of medical expenses or cover a holiday, these plans exist for a number of reasons. With dedicated causes and a set amount of contributors, these can be a much needed helping hand to low to mid income savers. With groups operating online and over messenger apps, this is an easy to access savings model. For debt and savings advice, 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.