Making better choices
is not always this easy

 

Debt Consolidation

Consolidate and save!

How to weather the financial storm……

Cut your monthly costs by consolidating your accounts and debt into your home loan. 

Use the equity in your property to consolidate your accounts.

What is equity and how will you benefit?

Equity is the difference between a property’s market value less the outstanding bond amount.

For example:

You purchased a property and bonded it for R600 000. Since then you have paid in and and decreased the loan amount to approximately R450 000, whilst the market value has increased to R850 000.

This means you have equity of R400 000 in your property. This equity could be used to consolidate your accounts. Here’s how:

Before consolidation
  Loan amount Interest rate Installment
 Home Loan R 450 000 14.5% R 5 760
 Motor Finance R 160 000 16.5% R 3 934
 Credit Cards   R   35 000 22.0% R 3 500
 Personal Loans R   55 000 22.0% R 1 733
 Total R 700 000   R 14 927

 

After consolidation
  Loan amount Interest rate Installment
 Home loan R 700 000 14.5% R 8 960
 Savings     R 5 967 per month!

*The credit card installment is based on a revolving amount and is calculated at 10% of the outstanding amount.

Note: The above is an illustrative example. It is indicative only and uses approximate amounts.  

  • Too many accounts?
  • Blacklisted?
  • Struggling to pay?
  • Are you afraid of opening your accounts?
  • Are creditors chasing you for payments?
  • Do you own a home?
  • Do you need instant cash?

ESCAPE THE DEBT TRAP. WE WILL HELP YOU MAKE A PLAN.

The plan is designed specifically to help you recover from your current negative monthly cash flow to a more positive, stable and affordable position. And in doing so, solve your short term financial problems.

If there is anything we can do to help you – Don’t hesitate to give us a call TODAY !

If you are interested in seeing how consolidating your debt might work for you, there is a convenient online debt consolidation calculator at moneycentral.msdn.com.

How much debt is too much?

Your debt ratio is an important number to be acquainted with. It tells you how your monthly debt payments compare to your monthly income. A high debt ratio might indicate that your monthly expenses are becoming unmanageable.

It also might discourage lenders from loaning you any more money. Use the Debt Evaluation calculator to determine whether your debt ratio is acceptable or too high.
 

 

Do banks offer free advice from qualified financial advisor?

[Title]

Our qualified financial advisors in Johannesburg address the topic of free financial advice offered by banks and why you need a qualified financial advisor.

Although banks often have a qualified financial advisor on their premises, their advisory services are vastly different to that of the bank teller.

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Posted by Gary Walker on Monday, April 1, 2019 Views: 89