FindBetter

  When money is tight, many people turn to personal loans in South Africa  as a way to cover unexpected costs or manage debt. But it’s easy to get caught up in myths that can cloud your judgment because there’s just so much misinformation out there. Some of these misconceptions may even stop you from making sound financial decisions. So before you rule out or rush into a personal loan, it’s worth separating fact from fiction so you can make informed choices that suit your situation.   Myths about personal loans in South Africa What’s actually true Personal loans damage your credit score A temporary dip may happen during the credit check, but on-time payments actually improve your score over time. Your family will inherit your debt Debt isn’t passed down. The borrower’s estate is responsible—unless a family member co-signed or stood surety. Personal loans always come with high interest rates Interest rates vary. With a good credit score, you can qualify for affordable, fix...

  It can feel like there’s no way out when you’re juggling too many loans. Debt consolidation in South Africa can simplify your finances by turning several debts into a single and more manageable single payment, giving you room to breathe so that you can repay what you owe faster and stay debt-free for good.   At FindBetter , we can help you start that process. But first, let’s break down how debt consolidation in South Africa works and why it may be the solution you’ve been looking for.   What is debt consolidation?   Debt consolidation allows you to combine all your unsecured debts (like credit cards and personal loans) into one new repayment to the debt counsellor. This single repayment replaces your previous obligations and gives you a single monthly payment that’s typically lower than what you were paying before.   Because you’re no longer juggling multiple repayments at different interest rates, you’ll likely pay less in interest overall. That means you ca...