Is Debt Review A Good Idea?

The National Credit Act introduced the process of Debt Review in the year 2007, so that NCR debt counsellors could help people in paying off their debts in a methodical way.

This act is really helpful to protect indebted consumers from their creditors. Debt counselling has become the need of the hour with so many people becoming indebted throughout South Africa.

When you are in debt, you will not be able to concentrate on work nor spend quality time at home. Most of time is spent on worrying and thinking about the huge amount of debt that needs to be paid. In spite of this, many people hesitate to contact a debt counsellor since they feel that they are publicising their problems and strangers cannot be of any help. After all, their income is going to remain the same. What people don’t realise is that an NCR debt counsellor helps to channel your income in such a way that expenses are also met and debts also get paid off simultaneously. Now you need not worry! You can get a debt review and start afresh.

Let’s see why debt review is a good idea:

 Debt review prevents you from being blacklisted. Your NCR debt counsellor helps to get you some legal protection from your creditor.
 Once you provide the details of your debts along with your monthly expenses and salary to your NCR debt counsellor, he will directly negotiate with the credit provider and all the matter will be handled very confidentially.
 Once you have contacted a debt counsellor, you don’t have to deal with the creditors. Your counsellor will handle all your calls.
 Your NCR debt counsellor will help in planning a budget in a professional manner, after a complete analysis of your financial situation. Always remember, he is there to help you come out of the mess! You need to share all important information with him.
 The most advantageous thing about getting a debt review is that you now need to pay only one fee to pay off your creditors that is affordable and manageable by you and acceptable to your credit provider. This is a big benefit because you need to pay less debts and so you have more money available for other household expenses or savings.
 Your counsellor helps to increase the repayment period and decrease the amount of your monthly instalment making life easier for you.
 You can choose to stop the debt review process whenever you want. You are under no obligation to continue it.

If you are drowning in debt and are unable to pay your monthly instalments, contact One Debt and get in touch with one of our NCR debt counsellors today!