Debt Review is Helping Families in Cape Town!
What is Debt Review? Debt Review is a legal process to assist consumers with paying their Debt by restructuring their budgets. Debt Review Helping Families in Cape Town, more and more Consumers sign up due to the fact that living cost is going up and they can’t pay back their debt. Many people turn to loans to pay debt, and this is not sustainable because the outstanding debt amount keeps on increasing with sometimes very high interest rates. Debt Review is the only solution to pay back debt effectively through a structured legal process.
Debt Review Helping Families in Cape Town, read more on how it works here:
https://controldebt.co.za/debt-counselling-facts/
What is the Purpose and process of Debt Review?
The purpose of debt review is to assist an over-indebted consumer or a consumer who is not currently over-indebted, but is experiencing or is likely to experience difficulty in meeting all his or her obligations each month. Debt review help the consumer to pay debt and credit agreements in a timely manner. Debt Review gives protection to the consumer from legal action from creditors.
The process of Debt Review: Debt Review is Helping Families in Cape Town
- The debt counselor will assess the financial position and lifestyle of the consumer and make certain recommendations so as to mitigate indebtedness.
- The application for debt counselling is fairly easy and the consumer only need to provide some general personal details and list of expenses
- Consumer applies for debt review by signing a Form 16 – the official application document.
- Then the debt counsellor will get to work and contact the credit providers to start the debt counselling steps.
- Credit Providers will look at the proposed plan from the debt counsellor and they will negotiate with the debt counsellor.
- Once the agreed installment is fixed your debt counsellor will speak to you to see whether this new installment is affordable for you to pay.
- Your debt counsellor will then load a debit order for you to pay you one installment each month that is for all your debt combined.
- A PDA (Payment Distribution Agency) will distribute the money you pay each month to all your creditors on behalf of the debt counsellor.
- Once all your outstanding debt is paid, your debt counsellor will issue a clearance certificate to declare you debt free.
Debt Review Helping Families in Cape Town to apply for debt review and reduce the stress of debt. Debt Review is a legal process to assist consumers with paying their Debt by restructuring their budgets. Debt Review Helping Families in Cape Town, more and more Consumers sign up due to the fact that living cost is going up and they can’t pay back their debt. Debt counselling is an easy and painless process that will assist you in paying your debt while having enough for living expenses.
Control Debt has registered Debt Counselor that will assist you in the process of Debt Review. We work in all areas of South Africa but are mainly based in the Western cape. Most of our Consumers that we assist has felt the immediate relief on their financial obligations per month.
Control Debt will give you a free assessment on your finances & Debt to establish if you are over- indebted and in need of Debt counselling.
Control Debt have managed to help many consumers whom needed debt counselling.
Read About Control Debt: https://controldebt.co.za/control-debt/
If after reading this article you are in need of debt assistance contact a professional debt counsellor for help.