Bye makes the following points: Based on these assumptions and if you have a good credit profile you would pay an installment of roughly R1 800 p.m.
Consolidating debt with standard bank what upsex model number
However you need to remember that by extending the repayment period you will increase your total interest payment and there are also administration costs, so it is not wise to use debt consolidation purely as a “convenience”.
According Alastair Bye Head of credit at FNB Smart Loans, if you cannot afford your existing monthly repayments debt consolidation would be a good option.
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