What is Debt Consolidation and How Can it Help You Become Financially Free?

If you are in financial distress, you are probably desperately scrambling for bail outs wherever you can get them. And you should not feel remotely bad about that. The reality is that with inflation being what it is, and with salaries staying the same, there are thousands of South Africans who are in the same boat as you. Before you throw in the towel and surrender to the surreptitious offers of loan sharks, consider consolidating your debt, and relieving yourself of the burden of outstanding expenses.

When times are tough, it certainly seems like debts just keep adding up. While debt consolidation does not erase your debt, it provides you with a way to settle your debts and get back on your feet. Now, what is debt consolidation? Many people believe that they need a debt consolidation professional to assist them with the process, but that is not true. You can actually consolidate your own debt quite effectively. Debt consolidation requires you to add up all of your total outstanding debts. A loan is then taken out for that amount and once it is granted, all the debts are paid off. Often, a loan of a lump sum will come to a much lower monthly repayment amount, and then you also only have one debt, instead of a myriad of debts and missed payments to try handle.

Before you start worrying about applying for a loan, and the red tape often associated with it, we have a solution that just might work for you. Instead of applying for a debt consolidation loan through the regular channels, you can apply for a loan with XCELSIOR, and use your vehicle as collateral. The vehicle will secure the loan almost immediately, and while it will need to be stored for the duration of your loan, it can be given back to you as soon as the loan amount is repaid. This means that you get the cash you need, without losing any of your assets. It is only a security measure. Debt consolidation is guaranteed when you take out this type of loan.

Will you be able to loan enough money to truly carry out debt consolidation? This all comes down to the total value of the vehicle. One of our local assessors will place a value on the vehicle. We can loan you up to 50 % of the value of the vehicle. For many, this is adequate to settle outstanding debts. One of the biggest perks of applying for a debt consolidation loan with XCELSIOR, is that we can have the money paid into your account and immediately available to you in under one hour. If you need money in a hurry to avoid being blacklisted, this can really save the day.

If you would like to learn more about how to use your vehicle for effective debt consolidation, we will be more than happy to help you. You can get in touch with us via email or telephone at XCELSIOR for more advice and guidance today.