Debt Review
Facing over-indebtedness is a challenge that many South Africans are familiar with. Rising expenses and a tough economy have caused many to rely on loans and financing to get through tough times. In order to stay above your cash limits and maintain your debts, you need a budget that works for your affordability. If you’re already in too much debt, you could benefit from Debt Review.
Debt Review is a process that alleviates your financial struggles to help you better manage what you owe. While going into debt happens quickly and without effort, overcoming debt is a completely different story, which can set you back for many years and make your life very uncomfortable. Established by the National Credit Act (NCA), the Debt Review service is legal and gives consumers the chance to redeem their financial stability.
There are many advantages to Debt Review, most significantly how it allows you to reclaim control of your finances. In a world where almost everything we do is governed by our financial capacity, keeping your credit report clear and your finances in check is incredibly important. Through an online assessment of your finances, we can determine if this is the best step to take. If you can’t keep up with your debt based on your income and basic living costs, chances are you will qualify and be deemed over-indebted.
How Debt Review Improves your Quality of Life
From the moment you’re entered into Debt Review, you are legally protected from any negative actions creditors may take regarding your debt to them. You may no longer be harassed or contacted by any lending institutes where your debts are concerned. In addition to notifying all credit bureaus and creditors that you’re under the Debt Review process, a qualified Debt Counsellors will negotiate with your creditors in order to lower your monthly instalments and even reduce interest rates where possible.
After changes to the monthly allocations you make towards your debts are applied, you will be presented with a new repayment plan. This plan is specifically aligned with what you can afford to repay your creditors every month, helping you to pay back your debts without compromising your ability to provide for your family.
Avoid becoming blacklisted and don’t let the debt trap keep you from finding your feet in life. We can help you with a Debt Review solution that protects you and grants you immediate financial relief. Our team also offers free assistance to individuals who need to access their credit reports for any reason.
Count on a National Credit Regulator (NCR) approved Debt Counsellor to guide you through the process of becoming debt-free. Our Credit Boost team is here to get you through your debts as easily and quickly as possible. After you’ve successfully completed the Debt Review process, you will receive a Debt Clearance Certificate and can start rebuilding your credit score.
