Advise for an individual stcuk in debt

Can Dubai resident get debt consolidation with Dh290,000 on credit cards?

Preeti Bhambri, founder of moneycamel.com, a price comparison website says:

Debt consolidation is the right approach towards reducing your financial obligations. This type of loan takes over an individual’s existing loans and credit cards, consolidating them into a single loan.
This usually results in lower interest rate payments. The loans and credit cards are then closed by the customer leaving them with only one loan to pay. Considering that you have managed to take out a bank loan and multiple credit cards, you are probably working with a company that is on the approved list with banks.

Published: Gulf News- June 19,2015

 

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