Consolidation Loans

When you are faced with numerous debt repayments each month that are starting to get out of hand, a consolidation loan up to R350 000 may help you get a handle on the money you owe. Consolidation Loans are available to consumers who struggle to repay their debt, as well as be able to afford the cost of living each month. When your financial responsibilities become a burden that you are struggling to bear, it helps to have an understanding of the options available to help make your life easier.

If you qualify for a Consolidation Loan, a process similar to applying for a personal loan, you can find yourself benefitting from simplified debt repayments that do not overwhelm your monthly budget. A Consolidation Loan is a loan used to pay back all your existing debts, essentially reducing your current accounts and the interest rates that come with them, and combining them into one consolidated payment. There are many benefits to consolidating your debt this way – you can look forward to an improved cash flow, where money is freed up for your needs and living expenses. The convenience of paying back just one loan that encompasses all you owe means you won’t need to panic about missed payments or debts that are paid late.

One major stress factor associated with debt is the management of multiple monthly instalments, debit orders and repayments. With a Consolidation Loan, you’re responsible for just one monthly payment to cover your various debts. This is a monthly payment with a single service fee and fixed interest rate, so you’re able to avoid revolving credit and don’t lose track of your loan cost, while also staying clear of spiking interest rates. Having this new control over you finances can be a game changer when it comes to paying off your debt. Let our team at EZI Finance help you get started with a Consolidation Loan application, and find out if you qualify.

Another benefit of a Consolidation Loan is that it can save you money. Once all your debt is consolidated, the amount you pay back in a month is less than the amount you were paying off before. With a Consolidation Loan, you have the flexibility to choose your repayment period based on what suits your affordability – the usual repayment terms available are between 12 and 60 months, or even longer. If you are able to commit to repaying your Consolidation Loan on-time and in-full each month, you can potentially start to see an improvement in your credit score, and will be better positioned to avoid becoming over-indebted or blacklisted.

To find out if a Consolidation Loan is in your best interest, get in touch with our professional EZI Finance team today. We offer a range of loan solutions to suit your unique financial circumstances and personal needs.

Apply for a Consolidation Loan by Completing the form below: