Debt counselling with a Debt Counsellor can help you to: Reduce your monthly payments: Debt counsellors can negotiate with your creditors to reduce your monthly payments to an amount that you can afford. This can free up some of your cash flow so that you can start to get back on your feet financially. Protect your assets: While you are under debt counselling, your creditors are not allowed to take legal action against you to collect your debts. This means that your home and car are protected from being repossessed. Clear your credit record: Once you have completed the debt counselling process, your creditors are required to remove the negative information from your… Read More
Continue ReadingHow to apply for Debt Counselling in George & Benefits
You can read here how to apply for debt counselling in George and educate yourself on the benefits of debt counselling. In South Africa, debt counselling is a legal process that allows over-indebted consumers to restructure their debts and get back on their feet financially. To be eligible for debt counselling, you must meet the following criteria: You must be a South African citizen or permanent resident. You must have at least two unsecured debts that you are unable to repay. Your total unsecured debt must be at least R50,000. You must be able to afford to make a monthly payment of at least 30% of your disposable income towards… Read More
Continue ReadingBenefits of debt counselling in George
Debt counselling in George is a process where a qualified debt counsellor like Control Debt, negotiates with your creditors on your behalf to get lower interest rates and reduced monthly instalments. This can make your debt more manageable and help you get out of debt faster. Here are some of the benefits of debt counselling in George: Reduced monthly payments. Debt counselling can help you reduce your monthly payments by paying a more affordable combined payment for all debt. This can make it easier to afford your payments and free up more money for your other expenses. Lower interest rates – Your debt counsellor Control Debt can negotiate lower interest rates… Read More
Continue ReadingDebt Counselling in Oudtshoorn
Debt counselling in Oudtshoorn can be done with a application with Control Debt and fairly easy. Debt Counselling is a legal process that helps over-indebted consumers repay their debts through an affordable repayment plan. Control Debt can help you to get your free credit report and evaluate if you can qualify for debt counselling. This plan is therefor agreed with all creditors via the debt counsellor. It is regulated by the National Credit Act (NCA) in South Africa. Debt Counselling in Oudtshoorn – Here is how debt counselling works: You apply to a registered debt counsellor like Control Debt in Oudtshoorn. The debt counsellor will carefully assess your financial situation… Read More
Continue ReadingHow does Debt Counselling work?
How does debt counselling work in South Africa? Debt counselling is a legal process in South Africa that helps over-indebted consumers to repay their debts. It is regulated by the National Credit Act (NCA) and is overseen by the National Credit Regulator (NCR). https://www.ncr.org.za/ The process of debt counselling usually involves the following steps: A consumer who is over-indebted approaches a registered debt counsellor. The debt counsellor assesses the consumer’s financial situation and creates a debt management plan. The debt counsellor negotiates with the consumer’s creditors to agree to a reduced monthly repayment amount. The debt counsellor collects the monthly repayments from the consumer and distributes them to the creditors.… Read More
Continue ReadingCreating a debt management plan
Creating a debt management plan with Control Debt can help you get out of debt, and reduce your monthly payments towards your debt accounts. Control Debt Registered debt counsellors are professionals who help people who are struggling with debt. They are registered with the National Credit Regulator (NCR) and are bound by the National Credit Act (NCA)., Control Debt Registered debt counsellors can help you in a number of ways, including: When you have a newly created debt management plan, the debt counsellor uploads this plan on debt management software of the PDA ( Payment Distribution Agency). A PDA works with the debt counsellor and distributes the installment you pay… Read More
Continue Reading