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Consolidating debt procedures

However, you need to look at all of the relevant issues as loan consolidation may not be right or available for you.

A credit report is obtained on all members requesting a loan for the first time.

In addition, for open end loans, an updated credit report is obtained annually on active accounts.

The information below can help you understand how a debt consolidation loan works, how you can use it to overcome your challenges with debt and what you need to know about the risks involved with using this method.

If you still have questions or would like to talk confidentially with a certified credit counselor about your debt, call us at When you take out a debt consolidation, the amount is fairly easy to determine – you choose an amount that covers however much money you need to eliminate your other debts.

The Credit Union is available to assist with budgeting and correcting credit reporting errors.

Our focus is not on profits, but on fair, quality service.

The approval of an application is dependent upon the following criteria: ability to pay, credit history, collateral, and purpose.

When applying for a loan, please have the following available: The willingness of a member to repay the Credit Union is observed by past performance on SECU loans and other credit obligations.

Standard Chartered Personal Instalment Loan Debt Consolidation Program helps you effectively manage your debts and gets your financial situation back in form.

It offers you a total lending solution that includes financial analysis and personalised repayment plans.

The actual date of payment of the Other Loan(s) shall be determined by the other bank(s) / financial institution(s) according to their relevant policies and procedures.