When Norm Bour was 24, credit was so hard to come by he couldn't get a gas station company credit card without begging.
While it's important for you to get a handle on your debt, how you go about it is just as important.
Debt consolidation entails taking out one loan to pay off many others.
This is often done to secure a lower interest rate, secure a fixed interest rate or for the convenience of servicing only one loan.
Jevon, CT, South Africa This is also a loan and means another debt in your account. It helps you consolidate your other debts, and thus to bring down the interest rates as applicable.
When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.
A loan with a longer term may have a lower monthly payment, but it can also significantly increase how much you pay over the life of the loan.
Money Help assists people who are experiencing financial difficulty.
For example, you may have suffered job loss, reduced working hours or you may be struggling to pay your rent, mortgage or bills. While you may feel embarrassed about seeking help, our Money Help phone counsellors are not judgmental about our callers’ circumstances, and offer confidential, independent and free advice.