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Information article : Debt consolidation loans
Debt consolidation loans is basically a unsecured loan used to pay of all other unsecured loans and you are left with one account to pay . People normally take out a consolidation loan when they feel that they cannot afford they monthly expenses and they would like to increase they monthly surplus after paying all they living and credit commitments .

" A debt consolidation loan is extremely helpful when you cannot afford your monthly expenses and do not want to run the risk of being blacklisted or have bad credit "

Banks do offer unsecured consolidation loans but you need to have a clear ITC in order to qualify . You can get a consolidation loan from private companies such as Finance Wizard and SA Loan services and these amounts may vary according to your credit risk . The other type of consolidation loans you get is a secured loan . This mean's that you use your house or assets as security os colatrial against the loan . This option is much easier to qualify for provided that you have enough equity left in your house . You also get much lower interest rates as compared to unsecured loans .

"Consolidating your debt is much better then going under debt review as you still have access to credit when need it , one should look at debt review as a last resort "

They are many types of loans such as SA Loan Services, bad credit personal loans and short term loans available online , in south Africa if one requires money are simple search is all that is needed. Applying for a loan can be as quick as completing a online application form.

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