Your Debt Consolidation Loan!
Save up to 60% on Monthly Debt Repayments
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One Monthly Fee
Country wide service
Become Stress Free
Save more money
Be Debt free sooner
Reasons to find your consolidation loan with us
Debt can cause many problems and if you are applying for a debt consolidation loan then you are probably already suffering with debt or are in danger of heading down that road. There is help for those that are in debt and you can deal with debt smartly.
Your Guide to Debt Consolidation
You should only take a debt consolidation loan if you are financial disciplined and are committed to paying the loan back, so that you can improve your financial situation.
If there is a likelihood of you defaulting on your loan repayments, then a debt consolidation loan might provide the relief you are looking for whilst freeing up some cash flow.
Debt consolidation is not for everyone, so make sure you take your time and consider if this is the right and only option for you.
Debt consolidation is not without risk. As you will be paying one monthly amount over a longer term, you will be paying more in interest over the long run. This can be curbed by paying in extra when you are able to.
You are able to save money as you will not need to pay multiple fees, service charges, debit order charges and other such fees.
Debt consolidation is the first step t financial freedom and by turning your multiple debts into just one manageable one, you will be able to free up more cash flow and budget your finances better.
Debt consolidation loans from reputable providers will also offer you legal protection from creditors and repossession.
A debt consolidation loan is undertaken to place numerous debts under one payment plan.
Debt consolidation offers reduced monthly payments and a lower interest rate. It does this by converting multiple smaller debts into one larger debt that has a longer term.
When a debt consolidation loan is used wisely it can have great advantages and will put you on the path to financial freedom.
How can a Consolidation help You?
Your debts can be settled
Your interest rate is reduced
Repayments can be reduced by up to 60%
Debt consolidation loans do have their benefits, but you will need to be disciplined and pay on time so that you can start to
lead a debt free life.
You will have cash flow relief
Receive legal protection against your creditors
Debt Consolidation Loan
Fill out the online form for free and find out more about debt consolidation and how it can help you to be debt free.
Terms and Conditions
Financeman.co.za does not provide life cover or personal loans. FinanceMan.co.za is an affiliate for multiple service providers.
Here is a simple example for you to take a look at when someone gets a loan.
Please note these are low rates with unrealistic repayment periods and is merely a figurative example to help you better understand how a loan works.
Let’s say you take a loan from a creditor for R1000 with an interest rate of 5% per year with a repayment period of 2 years with the requirement of 2 yearly repayments.
In order to settle this debt based on the above terms, you will need to make 2 annual payments of R537.80, making the total repayment R1075.60 in total.
However, if you wish to settle the loan in one year with the same interest rate applied, then you will be required to make one payment of R1050 for the year. Paying back the loan in one year will be R25.60 less than paying it in two years.
Now that the basics of a loan is understood, we can look at a working example and an easy way for you to apply for a loan.
Loan Amount: R30 000
Repayment Term: 12 months
Monthly Repayment: R3313
Total Repayment: R39 756
Maximum Interest: 28%
Minimum Interest: 16%
It is important to note that we are not a lender. We act as an online loan matching broker that works with a variety of NCR licenced direct lenders within in South Africa. Rates typically charged range from 20% APR to 112% APR. The APR on your loan will be based on your credit profile and personal circumstances. Loan repayment terms range from 2 to 60 months. Some lenders or brokers that we work with may charge you a fee to process your application.
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