Fast Track for Debt Consolidation

The global credit crunch has created a situation where many consumers are over indebted. With Fast Track Solutions we are able to consolidate your short term debt into your home loan so as to vastly improve your monthly cash flow.

Let's look at an example. Joe Soap owns a house, he also has car that he has financed. He has a couple of credit cards, a few retail accounts and a student loan that he is still paying off. His debt structure may look a little something like this:

 

 

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Before Fast Track Solutions Debt Consolidation

  Capital Monthly Payment Interest
Term (Months)
Bond R500 000 R5 531 R1 488 566
360
Car Finance R200 000 R6 000 R98 486
49
Credit Cards R20 000 R1 500 R2 889
15
Personal Loan R20 000 R800 R4 864
31
Retail R10 000 R700 R2 095
17
Total R750 000 R14 531 R1 596 901
360

After Fast Track Solutions Debt Consolidation

  Capital Monthly Payment Interest
Term (Months)
Bond R750 000 R8 712 R1 542 722
264
Car Finance 0 0 0
0
Credit Cards 0 0 0
0
Personal Loan 0 0 0
0
Retail 0 0 0
0
Total R750 000 R8 712 R1 542 722
264

In the above example our client settles all his short term debt in the process of the debt consolidation. We also decrease his monthly payments by R5 818 and at the same time he pays his house off in 22 years as opposed to 30, saving him 8 years on the term and R54 178 in interest.

If you would like find out more on how Fast Track Solutions Debt Consolidation can help you, click here to contact one of our consultants.