You may be among those trapped in debt. Quite often, this starts with just one life changing
event. Perhaps you have lost your job, or have contracted an illness that does not allow you
to work. Perhaps your vehicle has broken down and the cost to repair it is astronomical.
There are many ways it starts, and like most people your back- up in these situations is not
your savings, but credit cards. At the time, you don’t worry too much because you assume
you can pay it back. The only problem is that there always seems to be another need for the
money and you can only make the minimum payments.
Debt keeps spiralling
By the time people realise that they have a problem, their debt is out of control. Some may
spend several years juggling their debt in the hope that good fortune will find them and
remove all the debt. Unfortunately, that almost never happens. What does happen is worry
and stress takes a toll on family relationships and personal health. However, there is a way
in which you can take control. Speak to a debt counsellor so that you can apply for debt
First things first
It has been said that if you have money trouble your whole life is troubled. Debt review can
help restore your financial health by setting up a repayment plan you can afford. How it
happens is that the counsellor will contact all your creditors and arrange a repayment
schedule with each of them. Based on your income and living expenses, an amount will be
paid by you to the debt counsellor each month. He will then distribute payments to each of
your creditors on your behalf.
Benefits to you – and your family
The creditors will no longer solicit payment from you with threatening letters and phone
calls. You and your family will learn how to live within your means and pay cash for
everything. In time you will be debt free. Debt review is regarded as a lifeline to people who
need assistance in managing their debt. It is also a positive step in the right direction.
Need assistance with managing your debt? Speak to One Debt today for assistance with