Pay one consolidated payment you can afford

Paying small amounts to multiple providers adds up. It starts small with only like a R300 per month commitment to one provider. And then before you know it, you have accumulated 10 creditors paying each from R300 which accumulates to over R3000 per month.

Debt never comes at once; it sneaks up on us over time. And when your circumstances change, you realize that you are in over your head, and it’s often too late to qualify for a consolidation loan. You end up in a position where your creditors get more of your income than you have left to cover expenses. Leaving you with more of your month left to worry about because your income can no longer cover both.

It’s at this point that people reach out looking for a debt consolidation loan. They have the idea that if they can get one loan to pay off everything, they will be left with only one payment to worry about. But unfortunately, it’s too late, because they are no longer worthy for more credit.

Let us explain why…

To be able to qualify for a debt consolidation loan, you must have income left after expenses to be able to pay another loan. You must also be in good standing with your current creditors and have an excellent credit score.  This is in line with the National credit regulator’s requirements. So, if you are looking for a debt consolidation loan of R170 000 for example. You would need to have an additional of around R5500 per month to cover the loan before the financier will say yes. Your credit score would also need to be over 600 to be considered.

So many people in debt feel helpless and like there is no way out. They can’t keep up with current debt and they can’t get a large enough loan to consolidate debt.

Fortunately, there is a way out. It may not be more debt, but it’s designed to help people who are no longer able to qualify for credit. It’s a way to consolidate all accounts into one, even if you can’t afford the full installments.

How it works

You will do an assessment with a professional debt adviser to work out your monthly expenses. After taking your living expenses into account, the amount left from your net salary will be paid to creditors.

So, you will cover your expenses first and your creditors get what’s left.

When you are not under a program, your creditors take their money first, and you must live off the balance. That’s why with a debt restructuring program you can turn it around in your favor. You no longer must worry about not making it with your income. Your take home pay will be enough to live off without making more debt. You can finally start living life without all that stress.

Before we offer you an assessment, we want you to discover the other benefits available to you through the program.

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