What To Do When Debt Gets Out Of Control

It can be difficult to ask for help when you find yourself in financial trouble.  Nobody wants to be overwhelmed by debt.  If bills start to pile up and you can no longer make ends meet, it is very stressful.  Signs that you are becoming over indebted include frequent calls from creditors or receiving final notices and letters for payment.  If you have to pay for your daily expenses with your credit card or even borrow money from micro lenders, it is time to get help.  

One Debt understands what you are going through and how you are feeling.  They know it is not easy to ask for help, but that once you have a plan in place things will get much better.

How can One Debt help?

The first step to getting help is to call One Debt.  A friendly consultant will explain the process and how One Debt can assist.  To apply for assistance from One Debt you will need your South African ID book, a salary slip, a bank statement showing your list of deductions, a list of your monthly home expenses, confirmation of the number of dependents you have, and a list of your creditors and debt.   

The application process is simple and once completed One Debt can begin to help. One Debt will place you on Debt Review. The purpose of this is to create a repayment plan that you can afford and is acceptable to your creditors.  It also helps ensure that you have enough money for your daily living expenses.  Once you have an agreed plan you will immediately feel a sense of relief.

How does Debt Review work?

The process of Debt Review involves the consolidation of all of your debts.  You pay an agreed installment every month and a payment distribution agency then pays each of your creditors accordingly.   You don’t have to correspond with your creditors and you will also not be blacklisted.  If the installment amount is too high for you, this can be reduced and paid over a longer period of time.  This agreement continues until you have paid your creditors and can be declared debt free.  If you are over indebted, call One Debt to get help today.