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Debt Consolidation in Johannesburg involves taking out a new loan to pay off a number of other debts. We are assisting consumers to consolidate all their debt by applying for debt review. There are advantages for consolidating debt under review than taking an additional loan.  Debt review improves money habits as you learn to pay cash and spend less. When a consumer pays off their debt under debt review, they are unlikely to be over-indebted again because their money habits would have changed. Whereas if you are taking an additional loan to consolidate your debts the chances are that the debt will roll back up in no time because your money habits have changed. Debt Sage is one of the leading and successful debt management companies helping many consumers in Johannesburg to simplify their financial life. If you live in Johannesburg, you can come through to our offices or we can deal with you via the telephone.

Benefits of debt consolidation:

  • You make one single payment every month instead of several individual payments;
  • A single interest rate is payable and this gives you lower monthly repayments;
  • This can improve your credit rating since making a single payment each month is easy and chances of forgetting are slim or next to none.

When should you consolidate your debts?

This is common if you have home equity, debt consolidation is then done to attain a lower interest rate and create greater ease in repayment of a single loan. However, avoid the temptation to use your property as an ATM. This should be used only for major expenses like a car, home improvements or education costs. If you have huge credit card and micro loan debt, this can often be advantageous because these generally carry a high interest rate. While it may seem smart to consolidate other debts under a lower interest home equity loan, carefully consider whether or not you can really make the payments. If not, you could end up losing your home.

If your property is not attached to the loan, in the event that you fail to pay your installment, your property will not be at risk if the debt consolidation loan is done as an unsecured loan.

Simplifying your financial life through consolidation by way of applying for Debt Counselling is a viable financial option if you want to make behavioral changes and want to stay away from debt completely.

There is need to be watchful of the interest rates if the debt consolidation loan is unsecured. Debt Counselling has the benefit of lower interest rates as lower interest rates are negotiated compared to the interest rate offered under a debt consolidation loan.

If you have fallen behind your payments and finding it very difficult to survive. A debt consolidation loan will not absolve you from settling the huge debt. Debt Counselling has the ease of one payment and has the benefit of making sure that you meet your day to day cash management needs for your household. If a debt consolidation loan does not free up some cash flow, then there is no point in getting a debt consolidation loan.

Debt Sage debt counsellors will help you evaluate:

  • Perform a financial health check for free
  • Assess your current financial situation;
  • Provide you with a detailed review of your income and expenses;
  • Develop a workable budget that you can live with.

Visiting Debt Sage

Before you visiting Debt Sage debt counsellors you will need to gather together the following documents:

  • Copy of your identity document/passport
  • A copy of your most recent salary slip

Debt Sage will solve your debt problem and halt collection activity from credit providers and lawyers demanding payment and help you eliminate debt and take control of your finances and your future.  

One of our consultants is waiting for your call so that they assist you will debt consolidation in Johannesburg, Gauteng province.

 

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