Find Your Debt Solution Today
It takes a lot of discipline to make your money go the extra mile these days, yet many South Africans find themselves falling into debt. While some debts can be managed through thorough budget planning, it’s still likely for some of them to fall through the cracks.
If left unaddressed, an over-indebted individual can wind up facing legal action by their creditors, the repossession of their assets, and a permanent mark on their credit record. The latter is especially serious, since your credit score determines what kind of interest rate is attached to your next credit application – if you can apply for new credit at all!
Thankfully, with Supercompare, you have access to specialists, who can help you consolidate and repay your debts before any irreparable damage can be done.
Benefits of Debt Consolidation
The number one way you can fall behind on repaying your debts is by losing track of all the outstanding accounts in your name. Even a small amount can grow into a large sum thanks to the often exorbitant interest rates set by those creditors. The best solution is to pay these off as soon as possible, but that just isn’t feasible – after all, there’s a reason you had to take out that credit in the first place.
However, you can bring your finances out of the red with a surprising solution: a consolidation loan. It may seem contradictory to take out a loan to pay off all other loans, but this is an uncomplicated and sometimes more affordable way to settle with your creditors. It can also simplify your monthly budget, since you don’t have to juggle multiple debt obligations – you make only one monthly repayment to a single creditor.
Benefits Of Debt Counselling
We all need a little help sometimes – and never more so than when creditors are knocking on the door. With the help of a debt management specialist, you have someone in your corner to talk down those creditors and negotiate a restructured repayment plan with lower interest rates.
Apart from saving you from bankruptcy and bringing your credit score back from the brink, officially declaring your commitment to debt counselling can protect your assets from repossession and keep your creditors from pursuing legal action against you.
A qualified debt counsellor is the friend you need, when your debts exceed what you can repay.