Please be aware of the difference between debt management and consolidation loans. Many people look for debt management loans – but are essentially interested in the process, which is also known as debt counselling.
A consolidation loan is where one would attempt to take a bigger loan to pay off smaller accounts/loans and enjoy the benefit of a single monthly payment. It offers you the chance to consolidate your payments without an actual loan, and is focused on helping you achieve a debt free status.
Should you be interested in this process, our expert consultants will analyse your current financial situation, your monthly affordability, and tailor a plan that is realistic based on your income and expenses.
Essentially, a consolidation loan could be an option if you are comfortable with your monthly payments and in control of your finances. However, if you find yourself starting to struggle with your monthly payments don’t put yourself deeper into debt with these ‘debt management loans’ – rather talk to NDA and our qualified, experienced consultants will be happy to give you the right advice.