D
Loans
Debt Consolidation
Roll all your debts into one loan. One payment, one interest rate, usually cheaper. But watch out — pay it back or you'll just get into the same mess again. And it might take longer to clear.
Usage Examples
"Bongani had three store accounts (Edgars, Mr Price, Woolworths) and a credit card with R25,000 total. He consolidated into one Capitec personal loan at 16%. Monthly payment dropped from R2,100 across all five to R1,650 for one. Simpler."
"Nomsa owed Standard Bank (R8,000), Nedbank (R5,000), and had two store cards (R4,000). Seven payments a month, different dates, different interest rates. She consolidated to one FNB loan at 14%. Now one payment, one date, one rate. Lekker."
"Andile consolidated but made a mistake — he paid off the store cards, got the credit back, and spent it again. Now he had the personal loan AND new store debt. Consolidated his consolidation. It's a trap if you don't sort your spending."