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Debt consolidation

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Overview of debt consolidation

Many South Africans struggle with managing their debt, and this can have stressful and lasting effects. Combine your debts into a single, affordable monthly payment, receive immediate legal protection, and improve your cash flow.

How to apply for debt consolidation

Register or log in to your JustMoney dashboard. Under take control of your debt, click the Call Me button. Your interest in paying your debt will be noted, and a qualified financial adviser will call you to discuss your options. The assessment is non-obligatory and it’s FREE.

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Key features of debt consolidation


Free up your cash flow

Debt consolidation streamlines your finances, allowing for improved cash availability and better financial management.


Make one consolidated monthly payment

With debt consolidation, juggle fewer due dates by combining multiple obligations into a singular, manageable monthly payment.


Stop creditors hassling you

Consolidating your debt will help you to achieve peace of mind. Unwanted communication and pressure will be reduced, as you will not be dealing with multiple creditors.


Save on interest and fees

Merging multiple debts often results in lower interest rates and fewer associated fees, saving you money in the long run.

Quick guide to debt solutions


Debt counselling

Debt counselling combines your monthly repayments, leaving you with one instalment per month. Reduced payments and interest amounts will be negotiated with your creditors on your behalf.


How is debt consolidation different from debt counselling?

Know the difference between debt consolidation and debt counselling, to determine which financial solution is the right one for your needs.


What would life be like without massive debt?

In this article, we consider the difference between having debt and being over indebted, and outline some tips on how to alleviate financial strain.


How can debt counselling keep creditors away?

While you are under debt counselling, creditors are not allowed to contact you, leaving you with a measure of peace while you get your debt back under control.

Articles and insights

Navigating the complexities of multiple debts can be daunting, but debt consolidation offers a beacon of financial clarity. As a sought-after strategy for consumers with several debt obligations, debt consolidation not only streamlines repayments but can also pave the way for saving. Dive into our comprehensive articles to unravel the intricacies of debt consolidation, its merits, and how it can be your stepping stone to a more manageable financial future.

Will debt consolidation ruin your credit reputation?

Will debt consolidation ruin your credit reputation?

4 April 2022 · Harper Banks

If you’ve been struggling to juggle your credit obligations, you may be considering debt consolidation. However, what would this mean for your credit score? We find whether there are any implications.

How can debt counselling keep creditors away?

How can debt counselling keep creditors away?

17 October 2021 · Joshua White

Among the many benefits of debt counselling is its ability to keep creditors from hounding you, leaving you with some measure of peace while you figure out how to repay your debt.

Unsecured debt 101: Use it responsibly

Unsecured debt 101: Use it responsibly

11 July 2021 · Athenkosi Sawutana

The emergence of COVID-19 has dramatically changed our lives. The financial impact has been sweeping and has resulted in massive job losses, business closures and salary cuts.

Shopping showdown: Where to buy your groceries

Shopping showdown: Where to buy your groceries

17 March 2021 · Athenkosi Sawutana

Food is becoming prohibitively expensive in South Africa. In January, StatsSA released a study showing that food and non-alcoholic beverages are some of the biggest contributors to inflation.

Which debts can you include in your consolidation loan?

Which debts can you include in your consolidation loan?

15 March 2021 · Isabelle Coetzee

When you start debt consolidation, you will have the opportunity to bundle all your outstanding debts into a single debt. But which debts are you allowed to include in this process?

How is debt consolidation different from debt counselling?

How is debt consolidation different from debt counselling?

25 February 2021 · Isabelle Coetzee

If you’re struggling to manage your debt and you decide to seek help, you will likely come across the terms “debt counselling” and “debt consolidation”. Although they sound like synonyms, these are two separate...

Can a personal loan save you money?

Can a personal loan save you money?

16 February 2021 · Athenkosi Sawutana

A personal loan can be a useful tool to achieve your financial goals. It can help pay for your children’s education, house renovations, and medical expenses. But can it be used as a tool to save you money?

Debt levels reach beyond 80% in consumer group

17 December 2020 · Staff Writer

In a bid to find out how indebted South Africans are, JustMoney conducted a survey that attracted 190 respondents. The survey was conducted in November 2020, and every participant had 13 questions to answer.

What scares you about your finances?

What scares you about your finances?

8 October 2020 · Athenkosi Sawutana

Finances can be anxiety-inducing. If money matters keep you up at night or make your brow sweat, know that you are not alone. JustMoney spoke to some of our readers about their financial fears. The information below may help to ease these anxieties.

View all Debt Consolidation articles

Reduce your debt burden!

Free up your cash flow. Make one consolidated monthly payment. Stop creditors hassling you. Save on interest and fees.

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FAQs about debt consolidation in South Africa

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What is debt consolidation?

Debt consolidation is a financial strategy successfully used by South Africans to streamline multiple debts into a single, more manageable loan. Instead of juggling various debts, each with its own interest rate and due date, you can obtain a debt consolidation loan to pay off these debts.

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How can debt consolidation benefit South Africans?

  • Simplified payments: Instead of keeping track of multiple payments and due dates, consumers have just one monthly repayment.

  • Potential for lower interest: Often, the interest rate on a consolidation loan is lower than the combined interest rates of multiple debts, saving money over time.

  • Improved credit score: By consistently meeting monthly repayments on a consolidation loan, consumers can positively impact their credit report.

  • Psychological relief: Combining debts can provide mental relief from the stress of managing multiple loans.
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Are there alternatives to debt consolidation?

Yes, several alternatives can help South Africans manage their debts:

  • Debt counselling: This involves working with a professional who negotiates with creditors and creates a repayment plan.

  • Debt settlement: This strategy involves negotiating with creditors to accept a reduced lump sum payment to settle the debt.

  • Balance transfer credit cards: Some credit cards offer a 0% interest rate on balance transfers for a specific period, allowing debtors to pay down their debt without accruing interest.

  • Personal loans: Taking out a personal loan with a lower interest rate than current debts, and using this to repay the debts, can save money.
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