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If you have multiple loans and are faced with two or more loan payments per month you may find that it is becoming increasingly difficult to cope with the rising costs of living. Are you contemplating CONSOLIDATION or even bankruptcy?


Well here is some advice for you.

Consolidation is simply combining all your loans into one loan and ultimately, only one low monthly payment. How is this possible? Easy, by consolidating, you have stretched out your loan payments over a longer repayment term and this makes the payments significantly less. You should bear in mind however, that in the long run, you may be paying more because the longer you pay, the more interest you will end up paying. But in the short run you will increase your disposable income and this will give you well needed breathing space with your finances!

Consolidation of your loans will mean an increase in disposable income. So what can you do with the surplus? Invest! Invest! Invest! 

Speak to a representative of the St Lucia Teachers’ Credit Cooperative Ltd for more advice and suggestions.