Old mutual debt consolidation involves bundling up various loans into one. This is to ease the burden on the debtor particularly in cases where they may be to their nose in debt. Another reason why debt consolidation might be considered as a feasible option is to reduce the hassle on a monthly basis. When different loans have to be paid, and some of them have variable interest rates, calculation of due amounts is headache in its own.
Old mutual debt consolidation loans
Debt consolidation on the other hand combines all debt into one and a fixed repayment plan is presented to the debtor. The debtor can also renegotiate the tenure and monthly payments so it is more suitable.
Old mutual debt consolidation
One such plan is offered by Old Mutual up to the limit of R120,000 with tenure ranging from a month to 5 years. This debt consolidation plan is known as the My Money Plan at Old Mutual. Each applicants credit history will play a vital role in determination of the interest rate, however, Old Mutual’s debt consolidation packages are famous because of their reasonable rates. They also offer tailor-made packages for clients in unique circumstances.