Frequently asked questions

• What are the benefits of debt consolidation?

  Debt consolidation reduces your multiple debt repayments to one, therefore it simplifies repayments and makes it easier to budget. Moreover, debt is reduced through lower interest rates and longer terms.

• Am I eligible for a debt consolidation loan?

  You may not qualify for a debt consolidation loan if you have already defaulted on repayments or had judgments against you. If that is not the case, you still have to meet certain qualifications: they vary slightly from provider to provider, but in general you must be between ages 18 and 60, you must be a citizen of South Africa, your income must be a certain amount (usually at least R2500 per month), and you must be permanently employed at the same employer for a certain amount (usually at least 3 months).