Some banks offer a service whereby a consumer can consolidate his debt by using his home loan account. Under such an arrangement, the home loan repayment period is extended, often up to thirty years. This lowers the monthly amount and eases the consumer’s cash flow. In many cases, this period can be decreased again later without incurring additional costs.

If you are still coping with your payments, but need some relief, some debt management companies can help you manage your debt without having to enter into debt counselling. They can organise a more affordable monthly budget and facilitate in communicating with creditors.

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