The Downfall Of Reckless Credit

Your family may be one of the many in South Africa who could benefit from debt review in Cape Town. You had plenty of help falling into debt. Stores and credit card issuers are quick to extend credit. It only takes one life-altering event to tip a balanced budget into indebtedness. It could be illness, job loss, divorce or a hundred other unexpected events. Debt Review is your solution for moving your financial life out of the negative and into the positive.

The National Credit Act introduced debt counsellors to end reckless credit. There is a ten-step plan that you could be following to get yourself out of the grip of debt.  You will make one affordable monthly payment, leaving enough money for living expenses. During this time, creditors will not contact you or pursue legal action against you.

What’s The Plan?

One Debt Counsellors will conduct your Cape Town debt review in their offices. They have twenty years of financial experience.  They are both knowledgeable and dedication to relieving individuals of the debilitating stress of over-indebtedness. The debt counsellors will gather information regarding your creditors and amounts owed. Based on your income and living expenses, your monthly payment to creditors is calculated.

You make only one payment each month to a Payment Distribution Agency (PDA), which they disperse amongst you creditors. You do not have to communicate with your creditors at all! The debt counsellors do that for you.

South African Rules for Debt Review in Cape Town

The National Credit Review’s plan for assisting indebted people become debt free brings relief to thousands each year. However, each person must follow the rules set forth by the programme, the most important being make the agreed payment each month. Equally important is that you may not incur further debt during the period covered by the review. All your purchases will be in cash.

Once you repay your debts, a clearance certificate will be issued to your creditors and the credit bureaus. Those agencies have five days to clear your credit record. Not only will you be debt-free with a good credit rating, but you will have learned to live within your means. A One Debt review in Cape Town is your chance for a new financial start.