Some of the most common questions people ask those in the financial sector are: It’s certainly not only happening to you. The financial pressures of today’s economy continue to mount.

The SARB increased interest rates in March 2016 in an attempt to curb inflation in South Africa.

As a result the cost of borrowing money increased as well, leaving over-indebted consumers feeling even more stretched to make ends meet.

Debt consolidation is a viable financial solution designed to simplify multiple debt repayments and, under some circumstances, save the debtor money.

The process essentially involves taking out a single, new loan, at the lowest possible interest, to pay off multiple smaller debts.

The good news is that with debt consolidation; you could make paying your debt in 2016 a little easier for yourself.

The Simple strives to keep its information accurate and up to date.If you have multiple creditors harassing you by phone (this process can be extremely unpleasant) and you want the calls to end, then a debt consolidation loan is the fastest solution.And, if it’s planned out very carefully, it can also be the most cost effective option.It is a financial solution designed to simplify multiple debt repayments and, under some circumstances, save the debtor money.At Debt Busters, we know that it can difficult to manage your finances, especially if you’re already in a sticky situation.Taking a Debt Consolidation loan could be an effective method for debt re-financing.