If you find yourself in debt and living from payday to payday, you might be interested in learning about a debt consolidation loan. It is a great option for those who have a number of debts to cover each month and want to reduce their monthly spend. There is no magic want to wave to eliminate debt, but you can enjoy a lower interest rate and a simpler repayment method with a debt consolidation loan from XCELSIOR.
How Does a Debt Consolidation Loan Work?
Individuals who have a number of debts to pay each month can apply for a loan that covers the total outstanding amount. Once each creditor is paid off, there is just one debt to pay off each month. The goal of this type of loan is to reduce the interest rate and monthly payments, allowing you to pay the debt off quicker too. In addition, you avoid harassment from creditors and avoid being blacklisted as well. Many individuals benefit from the reduced monthly repayment and the convenience of paying off all their debts at once. Instead of having a number of small debts to pay off, you will owe just one entity; in this case, that would be XCELSIOR.
Debt Consolidation Loans at XCELSIOR
At XCELSIOR, we offer debt consolidation loans with a difference. We don’t want to put you through the hassle of credit checks, affordability assessments and all the other red tape often associated with loan applications. We want to make sure that you get the cash you need, when you need it with no waiting around. Your first thought will probably go to affordability. This is where it gets tricky for some. In most instances, financial institutions will only approve a loan to someone who is permanently employed and with a certain credit rating. We don’t need this. We simply need collateral which we will hang on to for the duration of your loan. Our accepted forms of collateral are: cars, bakkies, trucks, jet skis, motorbikes and SUVs.
The Application Process for a Debt Consolidation Loan is Quick & Easy
There is no need to manage spans of paperwork when applying for a loan with us. Simply fill in the online application form and one of our friendly consultants will assist you the rest of the way. You can also give us a call if that is more convenient for you. We will need to assess the vehicle being used as collateral, so make sure that you will be available for a visit from one of our team members. If all goes well, you can expect the money to be paid into your account on the very same day. What’s the catch? There really isn’t one. There are requirements though and these are simple to meet with – the vehicle must be paid off and in your name. That’s it!
Need more information about our collateral based debt consolidation loan model? Why wait? Give us a call, send us an email or apply online today.