Financial strain is one of the leading causes of stress in today’s world. Some of the warning signs that you may be over-indebted include receiving phone calls or threatening letters from creditors, having to borrow money from micro lenders to meet your monthly expenses, and using your credit card to pay for living expenses. It is clear that you need assistance. Debt Review can be the answer you are looking for. This process enables you to consolidate your debt and agree on an affordable repayment plan. It means you can avoid being blacklisted or the costly experience of going under administration.
How does Debt Review work?
With One Debt, the concept of Debt Review is simple. All of your creditors are notified that you are under review. One of our counsellors agrees a repayment plan with each creditor. For example, the monthly installment amount could be reduced, and the repayment period could be extended. The amount that you will pay takes into consideration how much money you can afford, after meeting your daily living expenses. Each month you pay one installment, and this is then distributed to your creditors accordingly. There is no need to personally deal with any of your creditors, and this relieves you of much stress. Once you have paid off your debt you are issued with a Clearance Certificate, and your credit record is restored.
Do you qualify for Debt Review?
If you feel you need assistance to manage your debt, contact One Debt and speak to a friendly consultant. He or she will explain in detail how the process works and answer all of your questions. You can then complete an application form. Some of the documentation you will require includes a bar coded South African ID, proof of income, a bank statement, and a list of your creditors with the amount owing. The One Debt counsellor will advise you on exactly what you need to do. With One Debt you can take control of your finances. Once you have a clear plan to follow, it is only a matter of time before your financial situation is resolved.