Consolidation Loans

[DrewChan]

I have a bunch of small accounts I want to group together.

2 x micro Loans
1 x credit card
2 x Store cards.

Totalling about 15k

What is the best bank/institition to amalgamate these, banks have been giving me lip today, ABSA no longer offers them etc etc.

Please assist

 

[kokzn]

don't consolidate!
use the snowballing method

 

[hellfire]

I have a bunch of small accounts I want to group together.

2 x micro Loans
1 x credit card
2 x Store cards.

Totalling about 15k

What is the best bank/institition to amalgamate these, banks have been giving me lip today, ABSA no longer offers them etc etc.

Please assist

African Bank will consolidate those. As will Capitec. And Old Mutual. Any of the micro lenders really. FNB has a product called 'Consolidation Loan' but I don't think that they consolidate credit cards

 

[DrewChan]

Wow this is a 2 year old thread of mine ^_^ but thanks

 

[spiderz]

Wow this is a 2 year old thread of mine ^_^ but thanks

So have you paid off all the loans? And how?

 

[DrewChan]

Well paid off those ones, got new ones paid them off. Never did the consoildation loan route- they only seem to be worth it if you have property, otherwise your interest rate is as bad as the loans themselves.

It helps that my salary has over doubled since then lol