the interest saving per month would be about r1 575 or r18 900 per year.
although debt consolidation creates immediate relief, every effort should still be made to lower the long term loan.
Debt advisors should advise you an estimate for the total repayment period and length of time for the plan subject to your creditors accepting the arrangements.
a debt consolidation loan is used to pay off several other smaller loans to manage your debt more comfortably.
Fresh Finance was set up to deal specifically with cases of serious debt that require immediate expert help.
Advice is given both on avoiding declaring Bankruptcy and also how to go through the whole bankruptcy process.
Consolidators Ltd role is to carry out the debt help services for you.
They do not receive funding from any other sources, so their charge to you is for providing their services to help you reduce your debts.
the numbers are close approximations used to illustrate the concept of debt consolidation.
this includes committing to a single loan of lower average interest with more affordable monthly repayments.
the consolidation loan calculator is a useful tool to help you determine how quickly you can get out of debt, as well as other aspects such as how much interest you could potentially save.
after consolidation he would have a single home loan of r987 500 and the instalment would be approximately r8 887, excluding fees, charges and insurances.
his cash flow saving would be about r4 410 per month.
this also saves you money on multiple fees, service charges and debit order charges on the various loans.