Example
Clothing account – 23% owing R5000
Personal loan – 16% owing R15000
Credit card – 17% owing R10000
Overdraft – 23% owing R1000
Owe R31 000 – so you get a new loan for R31 000 and pay off the multiple loans. then you are left with one.
Average 19.5% so make sure you get a new loan of an interest rate lower than 19.5%
Yoh Yoh? ??????
Never had to consolidate, here for Nicolette's LOOOK! Stunning!
I have never personally experienced this but Nicolette is ? correct.
Try to do the math before committing to this because some debt consolidation loans are not the solution.
Please don't try to do this with a credit card usually the interests will be much higher.