Debt Consolidation Loans in South Africa
Debt consolidation loans are available in South Africa when you are in severe financial trouble and have problems repaying your credit providers. The common pointers to indicate you need help are when:
The most logical choice, before you apply for debt consolidation loans in South Africa, is to draw up a list of income and expenses. List all your current expenses, monthly subscriptions, even the week-end DVD rental for the kids. Try to be as thorough as possible. Include daily items such as bread and milk too. Do you know how much you spend on magazines?
Scrutinize the list and cancel any subscriptions, (including magazine subscriptions), the DSTV as well. A good start is to get new car insurance quotes. Repay your debt consolidation loans faster with the money you will save on insurance premiums.
If you're still in way over your head after your new budget, contact your creditor providers and negotiate lower payments. In the current economic climate, they will probably be very helpful. If you do the negotiating yourself, you'll save the fees you'd have to pay to a debt counsellor.
When you're unsuccessful to get to an agreement with your creditor providers your next option is to:
Solving your debt problems is easier than most people realize.
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