Debt consolidation unifies multiple debt, typically high-interest unsecured debt such as credit cards, into a single manageable debt payment. You can use the process to re-organize debt, reduce monthly repayments, pay back a lesser amount, and get a better interest rate on your loan. Below we look at debt consolidation and interest rates options. Debt […]
Explained: Debt consolidation and interest rates Read More »
Taking control over your debt gets easier once you understand the different types of debt and learn to prioritise paying them off. This blog explains various types of debt, the worst types of debt, and which debts can be consolidated when undergoing debt counselling. Different Types of Debt Debt can be categorised in several ways:
What types of debt can be consolidated? Read More »
Various money ratios indicate if your debt is at a manageable level or not. These calculations may be employed by financial institutions to determine your creditworthiness but are generally helpful to understand your finances, reduce debt and improve budgeting. Lenders measure your level of debt to determine your creditworthiness by calculating a debt-to-income ratio or
What is a debt to savings ratio? Read More »
Are you unable or unwilling to pay your debt? Here’s how to tell if you have taken too much credit on your plate and whether you can afford it under the current repayment plan. You regularly miss monthly repayments When you take a loan to finance a purchase, the creditor grants the loan under an
Signs You Can’t Pay Current Debt and Need Debt Counselling Read More »
Being debt eligible means that you satisfy all the conditions to obtain debt and receive credit from banks or financial institutions. Here’s how to find out if you are debt eligible and whether you qualify for credit, what to do if you don’t know know where to get a credit report simply follow this link,
How do I become eligible for debt? Understanding your Credit Report Read More »
When it comes to paying off debt, knowing which debts to prioritise and pay off first can save you the extra money in accumulating interest and get you closer to eliminating another of those monthly instalment burdens. There are various ways to get rid of debt, and in this blog, we look at which debts
What debt is the most important to pay off first? Read More »