The Cruel Facts
Have you ever thought about how ironic it is that we work so hard to earn more money, only to spend it all repaying loans? Loans that trap us into a spiral of ever increasing debt. The lending industry, make no mistake about it, is a business industry focused entirely on profiteering off of the poorest of South Africans, and trapping the middle class, into joining those very same poor.
You are inundated every single day with advertising, intended to trick you into believing that you need to buy materialistic possessions that will make you “happy” and “matter” in life. And since the vast majority of South Africans earn minimum wage or lower, you are told that you need “credit”. Credit, according to these lending institutions, is now apparently a fact of life, that you absolutely need to have, in order to live your life.
Banks, micro-lenders, insurance schemes and other credit providers advertise their products continually, ready to “assist” you with debt, and “assist” you they will, they will smile genially too you as you consent to economic slavery, so that they and their shareholders earn bigger pay-checks.
Unfortunately, all too many South Africans continually fall for these tricks and willingly join the masses that are chained in servitude to these financial institutions.
Time to face the reality of loans.
A loan, is a financial instrument offered by a financial institution, that allows you to spend money you do not have, in order to buy things that you may or may not truly need from a third-party, and then obligating you to payback the financial institution the value of the loan plus interest. This always results in you paying more for “things” than their actual market value. Always !
These financial institutions are in the business of making money and there is no line they will not cross in order to make a profit. Debt Mate can help you break the bonds of economic slavery and live debt free, and even help you with advice on how not to entrap yourself with these institutions.
Debt Consolidation is the process of combining your various debts, like credit and store credit cards or personal loans, and consolidating them into one or two debts. This is off itself a loan, after-all the financial institutions are not happy with the ability to repossess your home, car, furniture or even the clothes off your back, they intend to make a profit, even if they have to drag you kicking and screaming. Debt Mate will do our best to consolidate your loans and credit, so that the financial institutions get their profit, while leaving you stress free and with your assets intact.
This is ideally done through a home-loan as it is secured finance and hence at the lowest possible interest rate. Otherwise an unsecured consolidation can be used.
Why you would consolidate your debt with a new debt loan.
To reduce the monthly cost of your existing debt, by decreasing your interest rate payable to the finance institutions. Saving you interest, which is money that will stay in your pocket every month adding relief to your monthly cash flow.
Should debt consolidation be the right solution for you, a Debt Mate Debt Advisor will negotiate with your creditors (those that are willing to negotiate) on your behalf, to consolidate the existing debts that you may have. This is NOT borrowing more, merely consolidating the debt that you currently have into a manageable package.