What Is Debt Review
What is Debt Review?
Debt review is a legal process where you consult with a Debt Counsellor who will assess your outstanding debts. The Debt Counsellor then implements a new payment plan by restructuring your monthly debt repayments.
Debt Review - The Low Down
When we place you under debt review, we will combine your current monthly debt payments into one easy instalment. We will also reduce your interest rates to as low as 0%, depending on your specific situation.
The new instalment will be drastically lower than your previous instalments, making sure that you can afford other essential living expenses.
Your new payment plan will start from your next instalment date, so you will have immediate financial relief.
As soon as you are done with the process, the debt counsellor will issue you with a clearance certificate.
The clearance certificate will instruct credit bureaus and credit providers to remove all the debt review info from their systems.
As soon as this info is removed, your credit record will be clear and you will be able to start afresh.
For more information, complete the call me back form and we will contact you within two business hours.
Let Us Call You Within 2 Business Hours! Our Debt Review Experts Will Answer All Your Questions.
Will Debt Review Work For Me?
For many South African consumers, it has become part of life to worry about debt. Millions of consumers lie awake at night not knowing how they will survive the month or pay their debt instalments. How do I keep my car? How do I keep a roof over my family’s heads, how do I feed my family and also keep the electricity on?
If this sounds familiar, do not feel alone. At Sandton Debt Counselling we hear these heart-breaking stories on a daily basis. Luckily, we have the knowledge and also the know-how to solve most of these problems with Debt Review.
Debt review is an extremely useful process for over-indebted consumers. An NCR registered Debt Counsellor will handle the whole process – make sure that the Debt Counsellor has a NCRDC nr. You can verify if the Debt Counsellor is indeed registered by following This Link and searching his / her name.
The Debt Counsellor will enter into negotiations with your creditors and also check if credit was recklessly granted. Monthly instalments and interest rates will be lowered, and our clients will enjoy legal protection under the NCA.
No further legal action will be taken, and reduced instalments will take affect from month one. The whole Debt Review process will take roughly 60 business days to finalize. After the initial 60 business days we will obtain a consent order to further protect our client and as long as payments are made, our client and his / her assets will be perfectly safe and no creditor will be able to harass or threaten them.
Can This Process Help Everyone?
Debt Review cannot help everyone. There is a so-called point of no return. There are some clients who just wait too long before contacting us. Trying every month to make ends meet, waiting to see if things won’t be better next month, creating a perfect budget but finding out that again, they barely scrape by.
These clients try to do the right thing by paying what they can afford – and yes, the credit providers agree to these amounts, only to hand the accounts over to a collection agency to start legal action. Once legal action has started, our job becomes more difficult and we cannot save all of these clients. It is therefore better to contact a Debt Review company as soon as you realize that you might not be able to pay your debt.
In conclusion, if you are struggling to pay your debt and need immediate financial relief, then yes, Debt Review will work for you. For more info or to get an obligation free assessment, call or WhatsApp us on 087 550 11 22 or complete the call me back form on this page