Debt Consolidation

How can you use your home loan to consolidate your debt?

Debt Consolidation is a process of "debt displacement" - the moving of debt from many different accounts into one account to save on the total amount of interest paid or to help with cash flow. Debt consolidation and debt management is all about reducing the amount of interest, and monthly charges you are paying on your outstanding debts.

For example

Accounts	Outstanding amount	Installment
ABSA Credit Card	R 15 000.00	R 4 950.00
Personal loan ABSA	R 10 000.00	R 6 000.00
Personal loan Credit u	R 9 000.00	R 5 000.00
Vehicle Finance Ned Bank	R 60 000.00	R 3 200.00
Edgars clothing account	R 4 900.00	R 1 000.00
TOTAL	R 98 900.00	R 20 150.00

Get a loan and consolidate your accounts and start saving

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