![]() ![]() The details of your bank account into which your salary is paid.If you meet those criteria, then you’ll need to supply us with: What do I need to apply for a debt consolidation loan?Ī regular monthly income of at least R5 000. Qualifying accounts usually include a range of loans (excluding home loans), credit cards, and retail accounts. You may also have the chance to put further monies you may qualify for to good use.ĭirectAxis will review your credit profile and determine which accounts are eligible for debt consolidation on a case-by-case basis.Your monthly repayment of the qualifying credit will be lower than what you’re currently paying.The Personal Protection Plan will settle your outstanding loan balance in the event of your death, permanent disability or certain dread diseases.You’ll have the convenience of paying a single, fixed monthly payment plus, a single service fee, and a credit protection plan.What other benefits can I expect with debt consolidation? Pulse is a FREE and secure financial wellness tool that allows you to check your credit score rating and learn how to improve it. To get you started, sign up for DirectAxis Pulse. A poor credit score will negatively impact your chances of getting financial assistance in the future, making it difficult to rent or buy a home, take out a loan or even secure vehicle finance. The next step is to improve your credit score rating. However, debt consolidation is only the first step to improving your financial health. It's your responsibility and will be in your best interest not to re-open or continue to use these accounts.ĭoes debt consolidation affect my credit score?ĭebt consolidation stands to benefit your credit score since you’re less likely to miss the repayment of a single loan instead of many individual accounts. We’ll let you know for how much your accounts will be settled and will handle the settlement on your behalf. It's especially helpful in tough economic times. It’s a financial tool that’s used by businesses and many financially savvy people to simplify their financial affairs, save on administrative costs and free up cash. ![]() If you’re left with very little cash each month after all your qualifying lending and credit accounts have been paid, consolidating debt can be helpful. When should I consider consolidating debts? Most South Africans who have consolidated their accounts with DirectAxis increased their cash flow between R1 000 and R1 500 every month. ![]() When consolidating debt, your monthly repayment of the qualifying credit will be lower than you are currently paying. How will a consolidation loan improve my cash flow? With over 25 years’ experience in providing leading financial services to South Africans, DirectAxis is an Authorised Financial Services and Registered Credit Provider (NCRCP20), and a business unit of FirstRand Bank Limited.ĭirectAxis will handle all the admin of settling your lending and credit accounts for you, giving you peace of mind. Why should I use DirectAxis to consolidate my accounts? ![]()
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