What is Debt Review?
Ever asked yourself: “What is Debt Review“? Discover what debt review is and how it can help you regain control of your finances. Our FAQ page provides answers to commonly asked questions, covering the ins and outs of debt review, its benefits, and how it works. Gain clarity and make informed decisions about your financial future. Explore the FAQ section below to find answers to your burning questions about debt review.
Frequently Asked Question - What is Debt Review
Short and sweet… Yes. If you are struggling financially each and every month, why would you not want to get financial relief? This process is there for a reason, to assist you. If you can improve your cashflow, why would you not want to do that? This will allow you to focus on working towards financial freedom. And the best part is you are legally protected from repossession if you have assets.
We will have to do an assessment to see whether you are over-indebted or not. If you feel that you cannot keep up financially, it can be a good indication that you might just be over-indebted. Feel free to contact us for a free assessment. Rather act now and make the right changes before it ends up causing you more trouble in the future.
Criteria for debt review:
– Must be employed
– Must be a South African Citizen
– Confirmed over-indebtedness from our Debt Counsellors
Every situation is unique, It depends on the amount of debt that you have and the amount that can be paid back. This is a negotiations process with the creditors.
Once one creditor is paid off, that amount will go to the other creditors, so it is always better if you receive additional cash, to commit that to your debt. In the end it will depend on how quickly you want to pay it off, which can be 12 months or 72 months.
Debt Review is not “Black listing”, Debt Review is there to help you improve your credit score. Once you are done with debt review you can start over again with a clean slate.
We are registered Debt Counsellors, which enables us to make better arrangements as this is a legal process. This process is part of the National Credit Act which means it has been put in place to ensure a better outcome.
If you are over-indebted you will most probably not get another loan. Debt Review will be the best option as it will consolidate your payments without a loan at reduced interest rates. If you feel the pressure of your financial situation, do not hesitate to give us a call.
No, you don’t need, to everything is done through all communication channels so you can do it in the comfort of your home. Our expert consultants will be in. communication with you constantly.