Having sleepless nights, wondering how you will get yourself out of debt? With the current economy and the regular increase of interest rates, food, electricity, school fees and fuel, millions of South African citizens are teetering on the edge of bankruptcy. Not only are many living from paycheck to paycheck, but over 50% contribute over 76% of their monthly income on their debt repayments alone.
South Africa is in a debt crisis of epic proportion
A four-letter word that not only sends shivers down a grown man’s spine – debt has repercussions far beyond a hit to one’s sense of security and self-esteem. When you’re deep in debt, it’s not only hard to see your way out, but it’s also hard to imagine that things will ever get better. But the good news is they will, and that is exactly why we exist.
We are the ultimate one-stop shop for every type of debt dilemma
Accredited as one of the leading debt consulting companies in the Southern Hemisphere, we offer a lifeline to everyday over-indebted consumers who have lost control of their finances and who are being harassed and threatened with repossession, foreclosure and garnishee orders. If you owe a lot of money and see no way out without losing everything, you will be happy to know that we have enabled well over 20,000 South Africans to pay their debts and clear their names without having to sell their assets or cash in their life insurance policies.
How debt review works
Introduced in 2007 by the National Credit Act (NCA), debt review is a legal, healthy practice where the over-indebted request to have their debt restructured through the help of a registered debt counsellor under the National Credit Act. A safety net for consumers who cannot keep to their monthly debt repayments, the aim of debt review is to make funds available to pay debts back, while still allowing consumers to have enough income to cover all their basic living expenses, such as food, car, petrol, school fees, bond or rent.
Legal action will cease and judgements will fall away
While there are many benefits of debt review, possibly the greatest benefit of all is that no legal action will be taken against you. In fact, as soon as you begin the process, you will be under the protection of the National Credit Act, which means they will permit your creditors from contacting you. All those telephone calls and notices that threaten judgements, garnishee orders, blacklisting, sequestration and foreclosure will fall away. And as soon as you’ve paid your creditors, you can start all over again with a perfect credit record. Sound good?
We can reduce your monthly payments and interest rates
Our debt counsellors will begin the debt review process by assessing your credit report and analysing your finances to see where your debt problems lie. Once we’re able to release some disposable income, we will negotiate to reduce your monthly repayments and your interest rates by up to100%. Our debt review counsellors will also help you identify your bad spending behaviours so you don’t fall back into irresponsible habits.
Call us—your financial freedom is only a phone call away!