Consolidating loan com

But if you’re struggling to balance your debt repayments, debt consolidation may well be worth considering.Debt consolidation is bringing all your existing debts together into one new debt, which can help you manage your repayments and give you a clearer picture of your financial future.

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If this sounds familiar, there are actions you can take to rein in your debt and pay it off sooner. Simply put, that’s one loan, one regular repayment, one interest rate and one set of loan fees.You’ll find it easier to manage payments and will save on monthly service fees and debit order costs.Interest rates are fixed making it easier to budget too.This is usually people’s preferred option since mortgage interest rates are usually much lower than other loan interest rates, and mortgages can be amortized (paid) over 25 years.This means you can arrange much lower monthly payments than with another type of loan.Insurance flat fee of R12.*Representative example: Credit of R20 000 borrowed for 12 months.

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