Our expert says:
In theory a consolidation loan is ok...but you need to look at the total cost of the loan. R1000 over 36 months is R36000 as compared to your current loadn of R17k. Find out about the interest rate and the total cost.
Whatever you do, dont apply for a credit card to do this - the interest rate is very high.
And most importantly, what is the reason that you are in debt? If you dont address that, you will probably end up in the same place again.
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