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Debt Consolidation Dubai
Debt Consolidation is a process by which an individual or a SME business with multiple credit cards and single or multiple loans facing difficulties in managing credit card and loan payments, can consolidate all into a single loan from a bank. This will eliminate the hassles of monthly multiple payments.
Many banks in UAE provide debt consolidation loans which benefits the clients by
Single payment to a bank instead of multiple payments to different banks
Saving in interest rates on loan repayment or to say EMI’s
Single debt payment consolidated from multiple loans and credit card debts
Longer payback period with fixed payment amount
A high credit score and an excellent payment history is required to qualify for debt consolidation loan eligibility. Our debt experts will carry out a free assessment for you if you are eligible for a consolidation loan. Many Debt Consolidation Companies are there but Global Debt Advisory is best.
See the table below (or illustration purpose only) for you to easily understand the benefit of less monthly interest rates and better savings. Table shows that multiple monthly payments of AED 15,471 are consolidated a single payment of AED 9,462 with the debt consolidation loan of same debt amounts.
|Current Debts and Payments
|Current Balance / Card Limit
|Personal Loan 1
|Personal Loan 2
|Credit Card 1
|Credit Card 2
|Debt Consolidation Loan