Tag-Archive for ◊ debts ◊

Consolidation Loans | Multiple Debts
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Consumer Assist negotiates consolidation loans

Consumer Assist is at the service of over-indebted consumers. We can negotiate debt plans that include consolidation loans with consumers’ creditors to put them back on the path to become debt-free and financially healthy again. Consolidation loans help the consumer to regain control of their finances.

The reason for this is that multiple smaller debts are usually responsible for a consumer becoming over-indebted. Multiple small debts attract the high individual interest rates usually associated with relatively low repayment amounts. Each outstanding debt also carries its own penalties and transaction fees, all mounting until they have become an often unmanageable burden at the end of each month.

Consolidation loans consolidate all the multiple debts into one large loan with a significantly lower interest rate. In addition, banks and creditors may agree to an even lower interest rate for consumers who are under debt counselling, further reducing interest payments. Another option available to the debt counsellor is to negotiate with creditors and banks to extend the repayment period of the consolidation loan, to further reduce the total monthly repayment amount. Once the consumer is under debt counselling and once a sound consolidation loan has been put in place, he can start paying off his debts and still retain sufficient cash flow to meet his monthly living costs. It may take several years to get out of debt, but now the consumer will have an attainable goal.

Consumer Assist negotiates consolidation loans on behalf of consumers. Contact us today and start on the path back to being debt-free and towards a sound credit record.

Debt Counselors | Debt Obligations
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Consumer Assist has professional debt counselors

The team of professional debt counselors at Consumer Assist is trained to help over-indebted consumers manage and regain control of their debt. The National Credit Act (NCA) of 2007 has made provision for the debt counseling process and debt counselors have significant negotiating powers by law.

A debt counselor does not help consumers avoid their debt obligations, but many consumers are under this impression. This has been proven by the number of consumers who cease to repay their debts the moment they had been put under debt counseling. Debt counseling merely means that a debt counselor helps the embattled consumer restructure his debt to enable him to pay it off more easily; it is not a payment holiday. The debt counselor would review a consumer’s financial position upon the consumer’s request and decide whether the consumer is over-indebted or not. Upon the decision that the consumer is unable to meet his debt repayment obligations, the debt counseling process may start.

The debt counselor would then negotiate with the consumer’s creditors and banks to restructure the debt. Interest may be further reduced by lenient creditors or banks that are willing to assist the consumer in repaying his debts. The debt counselor makes all these arrangements and handles the negotiations on behalf of the consumer.

Let Consumer Assist’s professional debt counselors assist you with your debt counseling process today. Contact us to find out how to start the process.

Bank Loans | National Credit Act
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Repay your bank loans with Consumer Assist

Consumer Assist does exactly what our name implies. We assist consumers with the management and repayment of their debts, like store accounts and bank loans. The debt counselling process came into being as part of the provisions made by the National Credit Act (NCA) and was meant as protection for consumers. Previously, reckless lenders could lend money to consumers who could not really afford the credit and then use any means allowable by law to collect those debts.

However, the NCA has put in place strict lending criteria. Finance institutions can be heavily fined for extending reckless credit and over-indebted consumers may obtain help far more easily. A Consumer Assist debt counsellor may take charge or a consumer’s debt situation and the consumer is protected from legal action for a minimum of two months while a debt counselling procedure is in process. This affords the consumer an opportunity to restructure his multiple debts, which may consist of car repayments, the mortgage, bank loans, store accounts and often many more.

A debt counsellor may arrange that the consumer’s multiple debts are consolidated into one bigger loan with a much lower interest rate. The new loan may be structured at an interest rate and repayment period that will enable the consumer to manage the monthly repayments much more easily, while still having sufficient cash flow to meet his monthly living costs. The consumer may be out of debt within a few years, but Consumer Assist also suggests consumers attend their financial fitness training course to stay financially healthy in future.

Contact Consumer Assist today with help to gain your financial independence again and break free from the prohibitive costs of servicing your bank loans and excessive debts.