You showed understanding of my situation without being judgmental in any way." D.
Jevon, CT, South Africa This is also a loan and means another debt in your account. It helps you consolidate your other debts, and thus to bring down the interest rates as applicable.
One of the best features of a debt consolidation loan is that you arrange the monthly payments so they fit your budget.
Botha, CT, South Africa “We’ve found it increasingly difficult to keep up with all our accounts every month and so we decided to consolidate our debt…With Zulika’s help we’ve improved our cash flow with R5,312 pm and this was by far the easiest financing that we’ve ever got.” F.Rheeder, Jhb, South Africa Another important feature of consolidating bills is that it helps your credit record. Using one loan to consolidate your debt can solve your problems. When you take loans from many lenders, you have multiple debts. This also increases the risk of defaults and you have additional pressure of repayments.
Debt consolidation entails taking out one loan to pay off many others.This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.It often involves a secured loan against an asset that serves as collateral, which is most, commonly a house (in this case a mortgage is secured against the house.) The risk to the lender is reduced so the interest rate offered is lower."I was caught up in a debt trap due to circumstances beyond my control and a lot of institutions offer assistance in this regard, but do not deliver on their promises.I was given an opportunity to improve my cash flow, without having to sell my single biggest asset.Honestly, I think you were very effective and efficient!