Ever considered taking out debt consolidation loans in South Africa?
It may sound like a great idea to you, until you start to scratch below the surface. Along with the speculative advantages – and I say speculative, as lower interest rates are not a sure thing.
On the other side of the coin, there are some very concerning disadvantages.
The most disturbing of all, being that you are putting yourself at risk of losing your home, if you decide to. Not only in South Africa, but in most countries of the world, where they are available.
In reality, we can’t predict with absolute certainty if we will be able to manage the repayments in the future. As life has proven throughout history, anything can happen.
It’s not pleasant to think about worst case scenarios. Unfortunately, when it comes to securing your own and your family’s financial future, planning is an undebatable must.
Qualifying for debt consolidation loans in South Africa means securing the loan with your valuable assets, by putting them up as collateral. The word ‘collateral’ should instantly set off alarm bells in your mind.
It means that, if for some reason you are suddenly incapable of meeting your financial obligations, you stand to lose your home, car, furniture or other assets, used as surety for debt consolidation loans in South Africa.
Furthermore, remember that rolling all of your debts into one big, fat ball just means you’ll have to make one big, fat payment every month that you may still struggle to afford. Plus, if you don’t chop up those credit cards, desperation and temptation may take hold again.
Translating into you digging an even deeper debt grave for yourself. To avoid all of this shock, horror and debt drama, send NDA your phone number to get a free call back, wherever you are in the country, and find out about some safer, niftier debt solutions.