Some time ago we discussed a new solution for credit card debt to accumulate, namely by conducting a credit card debt consolidation program. However, many are worried whether taking this step to overcome the accumulated credit card debt can overcome the problem, and will not accumulate debt?
Before discussing further, let’s remember again what is the definition of credit card debt consolidation:
Save Big and get a credit card consolidation fast
Basically, debt consolidation is a step taken to make it easier for you to be able to pay off the combined types of debt into just one debt to a financial institution other than a bank (for example finance companies or peer to peer lending companies ).
Usually, there are several advantages of credit card or debt consolidation that you can get at https://dedebt.com/credit-card-consolidation/. First, you no longer have to bother paying debt separately to several banks at once. So with debt consolidation, the entire process of paying various credit card debt or KTA is only done through one door. This can be very troublesome, especially if you are a fairly busy person. In addition, the advantages of other credit card debt consolidations are with a lower interest than normal interest.
There are two types of debt consolidation, namely using collateral and not using collateral. Both have their own advantages and disadvantages and can be obtained in accordance with the terms and conditions provided by non-bank financing institutions.
Now, Zigler is working with multi-finance institutions and trusted peer to peer lending companies in Indonesia. This was done as Zigler’s efforts in helping our clients in heading for a new life free of debt, which was integrated into Zigler’s debt management program. Here are two types of debt consolidation programs available at Zigler:
Types of Debt Consolidation Programs
Consolidation with Collateral
As the name implies, debt consolidation with this type is done using collateral. In most cases, it is usually the type of asset that can be pledged as property, especially housing. In other cases, you can also give the car as collateral.
To participate in a consolidation program with collateral, debts that are still running can be in arrears and smooth. So, even though you haven’t been in arrears, you can take this step as a preventative step in order to pay off the debt with temporary relief while still having funds. For those who have been in arrears, Zigler will also help conduct the negotiation process before the debt is consolidated. So, you can pay off the debt even more lightly.
Zigler provided this type of program by collaborating with several well-known multi finance institutions in Indonesia such as BFI Finance and Smart Finance, to assist our clients in obtaining a debt consolidation program.
Unsecured Consolidation: Card Cutter and Card Cutter Plus
Of course, this type of debt consolidation is more suitable for those of you who do not have assets. Zigler collaborates with a well-known peer to peer lending company in Indonesia, KoinWorks, to provide this program to our clients. As one of the startup companies in the field of financial technology in Indonesia, of course, you already know KoinWorks as a company that provides low-interest loans. There are two types of consolidated programs without collateral:
In this type of program, you can consolidate several credit card / KTA debt with a minimum of a total of 10 million Rupiah. In the Card Cutter program, debt conditions are usually not in arrears. You don’t need to use any collateral, just register in the Card Cutter program (assisted by professional consultant Zigler), then some types of debt will be replaced by one new debt.
Card Cutter Plus
In this type of program, you can consolidate several credit card / KTA debt with a minimum of a total of 10 million Rupiah. The difference is the usual debt conditions already in arrears, then before consolidating into one, the debts will through the negotiation process first in order to get the cut. Of course, this will make your debt even lighter, and easier to pay off. As with Card Cutter, you also don’t need to use any collateral. Simply register in the Card Cutter Plus program (assisted by professional consultant Zigler).
Is my Consolidation Program only getting more debt?
One of the more frequent questions when reading a debt consolidation program is whether the existing debt will accumulate, or just move the debt?
The answer is, both the debt consolidation program with and without collateral, both of which will help you to pay off arrears in a better & lighter way. Of course, this must also be adjusted in advance with your ability to pay.
This means that it will further facilitate you in paying off the remaining debt. Usually, without a debt consolidation program, you have to pay in a larger nominal. However, if you want to extend the payment term to several years, of course, the total payment will be a little more. Only, this will still relieve you because the monthly installments in the consolidation program will be much lower than the normal installments you pay now.
So, both will still make it easier for you to pay off debt, without the need to burden payments every month.