While debt consolidation isn’t a cure-all for money problems, it’s becoming increasingly popular among South African consumers as a practical way to manage their finances.
According to specialist loan provider, DirectAxis, nearly a quarter of all the applications it approves are for consolidation loans.
“Debt consolidation isn’t for everyone, but it can be a useful tool to get your financial affairs under control. This is particularly true if you’re feeling overwhelmed or stressed about juggling multiple credit agreements – from credit cards and retail accounts to loans and overdrafts,” said Gavyn Letley, Product Head at DirectAxis.
Managing these credit facilities can be difficult, and a missed payment could…