Bad Debt Consolidation and Credit Rehabilitation Program
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Debt Consolidation Loan
Debt consolidation loan is when you take out a new loan to repay many other loans. You are consolidating many loans into one loan.
Debt consolidation can be done from a many unsecured loans to a new single unsecured loan. This will create convenience, but not necessary lower repayments.
The consolidation can also be from many unsecured loans to a single secured loan over a property. This loan will have longer term of repayment and lower interest rates that will lower the monthly repayment installment and improve your cash flow.
Bad Credit Consolidation
In the current economic climate banks have become very strict with their lending criteria. Customers that have missed payments on current loans will not qualify for a debt consolidation loan. People with court judgement, even if the judgement happened many years ago, will not qualify for further lending or consolidation.
Currently there are many people with adverse credit ratings so do not feel alone. Many customers have lost their jobs or had a loss of income due to a partner losing their jobs or salary reductions at work. Some people have simply taken on to much debt and are new drowning in debt. This has caused missed payments on accounts and even judgements been taken by creditors.
We can Help You
Until recently there was no other option for customers with bad credit record. There is a new option available and that is bad debt consolidation. What we do is consolidate all your debt into your property. That is why you must have property to do a bad credit consolidation. We use your property as collateral. So the new consolidation mortgage is secured over your house.
Credit Score Rehabilitation
We will consolidate your debt into one mortgage loan and secure the debt over your house, like any other bank. All your bad debt will be repaid and you will begin with a new credit record with us. As time goes by your credit record will improve, because you are paying your new mortgage each month on time with no other outstanding debt. In about 6 month time your credit record will be repaired so that you can apply for new credit card, personal loan or mortgage at any bank.
Email: enquiries@consolidationdebt.co.za
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Articles
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