Today we are going to be looking at consolidation loans in closer detail, due to the huge number of requests we have received about more this topic.
This type of loan is relatively new to the loan industry, but more and more companies seem to be offering this product and today we are going to be looking at these types of loans in general and we be featuring more debt companies in the coming weeks and months.
Consolidation loans generally entail that you take out 1 consolidated loan from the financial institution and only have to repay the 1 loan.
Through this loan all your outstanding debts are settled and thus you do not have to worry about paying multiple creditors monthly and only need to repay the consolidation loan instalment monthly.
There are various financials institutions offering this service and most of the well-known are all the major banks in South Africa. Each offering a different type of product and thus their terms and conditions will vary.
We suggest that you do read more about each type of loan on the various websites of these companies and visit all the major banks like FNB, Capitec, ABSA, Nedbank and Standard Bank.
Consolidation has helped so many people due to the fact that they managed to stay out of debt and avoided the risk of being blacklisted due to non-payment of an instalment to a creditor. We are going to be looking at the various companies and will providing you with detailed reviews and news related to their product offering.