Our Services
Debt Consolidation
Debt Consolidation
Debt consolidation involves taking one new loan to pay off several unsecured debts. For instance, credit cards and personal loans are paid and combined into a single new affordable payment.
Depending on your risk profile, the new loan may result on a lower rate of interest. On the other hand, debt consolidation results in reduced installment as well as improve your credit rating.
Consolidation & Reduced Interest
Tend to reduce the rate of interest, therefore saving clients on interest payment.
Consolidation & Faster Payment
This is mostly the case with credit cards that have no repayment term in particular.
Consolidation Loan & Huge Savings
Pay one consolidated, reduced installment & cut on interest payments.
Debt Consolidation & Creditor Management
Turns multiple payments into a single payment. As a result, it eliminates the stress of multiple DebiChecks.
Consolidation loan & Budget Control
Management of expenses is much easier because there is one loan to manage.
Consolidation Loan & a Healthy Credit Score
It helps improve the consumers’ credit rating. Because of this, it becomes easier to access new lines of credit.
The financial risks of a debt consolidation loan
Short Term Fix
Consumers who want to pay off all their debts but are struggling with the current payment plan.
Extra Fees and Charges
There may be hidden fees for alteration, late payments and payment default
High Interest rates
Interest may be very high depending on consumers’ risk profile.
No Legal Protection
There is no legal protection should a consumer fail to repay a consolidation loan. Hence, debt collectors will make harassing calls.
Long-run effect
Lower repayments over a longer term may add to the overall cost of the debt because the consumer will be paying interest over an extended period.
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