Real Estate Assist Debt Consolidation and Loan Consolidation In South Africa, the concept of loan consolidation is a popular method for managing multiple outstanding debts. This approach combines various debts into a single loan, potentially lowering the interest rate and simplifying the repayment procedure. However, one must remember that loan consolidation does not erase debt; it merely restructures it into one manageable loan. On the other hand, debt settlement is an approach where negotiations are made with creditors to pay a reduced amount than what's owed. This could potentially decrease your total debt. However, it could adversely affect your credit score and there is no guarantee that creditors will consent to a settlement. Furthermore, any forgiven debt could be classified as taxable income. Debt Settlement FAQs: What is loan consolidation? What are the benefits of loan consolidation? The Best Loan Consolidation company in South Africa Choosing a loan consolidation ser