What is Debt Review?

Are you having a hard time making ends meet? Does the end of the month equate worry
and stress over paying your bills? You could consider debt review. This is a process specially
designed to assist people take control and manage their debt. If you are struggling to
manage your monthly debt repayments, debt review may be the solution you need. One
Debt offers a debt review process that consolidates your debt in ten simple steps.

What do I do?

To start, you’ll need to sign up. There are 2 choices – visit the One Debt website and fill in
the contact form; or, fill in the application form directly on the website. The following
documents will be needed with your application form: certified copies of your ID, proof of
employment and financial records, as well as a list of all your current creditors and
outstanding debt. You can rest assured that qualified debt counsellors will manage
everything for you once your application is processed and approved. Your credit providers,
the NCR and the credit bureaus will be informed that you are undergoing debt review. Your
outstanding debt will be confirmed by your creditors. Thereafter, a payment distribution
agency will draw up a budget and repayment plan for all your debt. This budget is then sent
to your credit providers for approval. You will then pay a single monthly payment to the
payment distribution agency. This payment is allocated and paid to each of your credit
providers according to your repayment plan.

The benefits of debt review

Going under debt review is a prudent decision. It will help you manage and maintain your
finances. This is done through realistic and reasonable debt repayment plans. Debt review
helps you meet your financial obligations in a sensible and affordable way. On top of this,
debt review protects you from being blacklisted or legally pursued for your bad credit during
the process. Your main responsibility with debt review is to ensure that you make your one
monthly payment to the payment distribution agency. It will also help you to practice
healthy financial habits to prepare for your debt-free life ahead.

If you need more information on debt review, speak to a friendly consultant at One Debt