Debt Counselling to Restructure Debt? Debt Counsellor Responds – Yes, debt counselling can restructure debt. In South Africa, debt counselling to restructure debt is a formal legal process that allows a consumer who is over-indebted to negotiate with their creditors to reduce their debt repayments and restructure their debt. This can involve a number of things, such as:
- Reducing the interest rates on your debt.
- Extending the repayment period for your debt.
- Paying a more affordable combined installment for all debt.
- Consolidating your debt into one monthly payment.
So we ask again…Debt Counselling to Restructure Debt? Debt Counsellor Responds:
The debt counsellor in George, Control Debt https://controldebt.co.za/about-control-debt/, can restructure debt for sure once he/she has negotiated a new payment plan with your creditors. The debt counsellor in George will apply for a court order to make the new payment plan legally binding. This means that your creditors are legally obliged to stick to the new payment plan, and they cannot take any legal action against you while you are under debt counselling.
YOU CAN GET A FREE DEBT ASSESSMENT HERE: https://controldebt.co.za/enquire-debt-review/
in conclusion to the article topic : Debt Counselling to Restructure Debt? Debt Counsellor Responds, Debt counselling to restructure debt can be a helpful way to get out of debt if you are struggling to make your monthly repayments. However, it is important to note that it is not a quick fix. The debt counselling process can take up to 5 years to complete, this however depends on the amount of outstanding debt. As soon as all debt is paid, the debt counsellor will issue a clearance certificate to state that you are debt free again.

If you are considering debt counselling, it is important to speak to a registered debt counsellor like Control Debt in George, to get advice on whether debt counselling is the right option for you. They will be able to assess your financial situation and help you to create a debt management plan that is right for you according you what you can afford monthly.
Here are some of the benefits of debt counselling:
- It can help you to reduce your monthly debt repayments.
- It can extend the repayment period for your debt.
- It can help you to consolidate your debt into one monthly payment.
- It can stop your creditors from taking legal action against you.
- It can help you to improve your credit score.
- You will still be required to make monthly payments to your creditors.