Debt Consolidation Loans bring relief

May 18, 2011

If you need to get urgent cash flow relief from the burden of high monthly debt repayments, then looking for reputable companies offering debt consolidation loans are the way to go.

The easiest and by far the least risky way to consolidate debt is through your home loan.  You’re probably wondering why I say it’s the least risky because you’re basically putting your house at stake?

I say it’s the least risk form of debt consolidation because often, opting for a debt consolidation loan by way of a personal loan can be a very expensive endeavor.

The idea is to reduce your interest and to reduce your monthly installments and most times a personal loan is much more expensive, not to mention the high interest.

Also, if you consolidate debt through your home loan you automatically have a much smaller repayment because the home loan is over 15 or 20 or 30 years and that will bring great relief monthly while you’re settling the debts.

Thereafter, you can use at least half of what you’re now saving on installments per month to make additional payments into your bond.  This way you reduce the term of your home loan and save on interest.

Debt consolidation is not ideal, but it does help you to manage your debt better and takes away the worry of high monthly debt payments.  Also, it gives you peace of mind knowing that you only have one debt to repay on a monthly basis.

If you are comparing debt consolidation loans and want more information or wish to apply, do not hesitate to contact us on www.globalproperty.co.za

* information correct as per time of posting


Debt Consolidation Loans – Are They Really Obtainable?

February 11, 2010

Debt Consolidation Loans have been talked about for a while now.  Are they worth pursuing or not?

If you consider that debt consolidation loans are much cheaper than conventional debt, then I have to say yes, go for it.

Remember, debt consoldiation loans only work if they are taken on a home loan.  Why?  Well, because your home loan is the cheapest form of debt you will have available.  The interest rate (at worst) is 10.5%, whereas credit cards are close to 20% and personal loans and other accounts are in exess of 25%, so as you can see, doing debt consolidation can save you a ton of money in interest.

Another positive is that you’ll be able to plough the savings back into your bond, which means you’ll pay it off quicker.

If you don’t do that the consolidation is just a quick fix and you’ll be paying off the credit cards and loans over 20 years.

So, when considering debt consolidation loans be sure that you’ll be disciplined enough to take the amount that you’ll be saving each month and putting it back into the bond.

You’ll have less stress and only 1 debt to pay…….relax.

For more information on debt consolidation loans don’t hesitate to contact us.