Did you know that as many as 10 million South Africans, or 40% of the credit-active population, find themselves burdened by unmanageable debt? We’re not kidding. That’s a fact – Google it. The obvious next step upon learning this knowledge would be to ask how to solve it, right? That’s when a hero comes along in the form of a debt consultant (cue Mariah Carey).
What is a Debt Consultant?
A debt consultant is a specialist who helps over-indebted people become debt-free by readjusting budgets, reducing monthly payment amounts, and ultimately paying off all debt. Essentially, a debt consultant is your go-to when you’re in too deep and struggling to get out of debt.
When to Work with a Debt Consultant
As we’ve mentioned above, there are approximately 10 million South Africans in debt today. If you thought that debt wasn’t a pandemic in our country, think again. It can creep up on you if you’re not wise with your financial habits, and before you know it, you’re a part of that ever-growing number.
If you’re reaching the end of the month and you’re struggling to make payments on the things that matter in your life, it might be time for you to consider reaching out to a debt consultant. If you have to think hard about whether you’re heading for trouble, we’d suggest getting in touch with us.
National Debt Counsellors Can Help You Become Debt-Free
We exist to do everything we can to support you and help you become debt-free. We understand the seriousness of debt and the effects it has not only financially, but emotionally, physically, and mentally. We’re passionate about seeing people step into financial freedom, and the best way we’ve seen this happen is through our debt review process.
If you’re struggling to make your monthly debt repayments, there is hope for you! All you need to do is reach out to us today and we’ll walk you through the process.
Here is a summary of what you can expect when you work with us:
Step 1: Request a Free Consultation from a National Debt Counsellors Debt Consultant
One of our professional consultants contacts you and takes you through a no-obligation financial assessment to determine whether you’re over-indebted. Don’t worry, this process is completely confidential!
Step 2: We Notify Your Creditors & Negotiate a New Payment Plan for You
If you are indeed over-indebted, we then notify your creditors that you’ve applied to go under debt review. From here, you and your assets are immediately protected under the National Credit Act. We also negotiate your loan agreements with your credit providers and restructure your repayments to an amount that’s affordable for you. This means you’ll no longer struggle to make payments each month!
Step 3: Pay a Single, Affordable Monthly Instalment
Once we’ve handled the above steps for you, you begin paying one easy monthly instalment via an accredited PDA (Payment Distribution Authority), which distributes the funds to your credit providers.
Step 4: We Make the Approved Plan an Order of the Court
Our panel of Attorneys apply to the Magistrates Court on your behalf to make your restructured repayment plan an official order of the court and ensure you remain protected during the process.
Step 5: Your Debt is Paid Off and Your Credit Record is Clear!
Slowly but surely, you’ll pay off your debt. Hooray! Once it’s repaid, we issue you a clearance certificate and notify the credit bureaus to clear your credit record. You are now able to live in financial freedom!
Why Debt Review with National Debt Counsellors is a Good Idea
The debt review process has a lot of benefits, the most significant is that it allows you to repay your debt in a structured and sustainable way. Your debt consultant assesses your budget, considers essential expenditures such as groceries, housing, education, and transport, and then works out how much you can afford to pay going forward.
Here are some of the other main reasons you should consider working with us to help clear your debt:
No More High Amounts
We reduce your monthly repayments to an amount you can afford, which helps you slowly but surely step out of debt and into financial freedom.
You & Your Goods Are Covered
We provide immediate protection to you and your assets (including your house and car), so there’s no need to worry when you’re under the debt review process.
We’re the Ultimate Middleman
We negotiate with your credit providers directly, so you don’t receive any more harassing phone calls.
More Peace, Less Stress
We negotiate lower interest rates on your behalf, and we extend your repayment terms. This means you get a bit more breathing room as you begin moving towards more financial stability.
We’re Comprehensive from Start to Finish
Once you’ve cleared your debt, we apply to clear your credit report. So, all you must do throughout the process is make your payments. We do everything else on your behalf!
The ultimate reason to apply for debt review is simply to get on a better financial wicket overall. To live debt-free is the goal, and with debt review it becomes possible. At National Debt Counsellors, our team is registered with the National Credit Regulator and offers you a no-obligation, free assessment of your financial situation.
Our reputation for providing exceptional service is only enhanced by the great relationships we’ve cultivated with all the major credit providers in South Africa. This gives us confidence to negotiate the best payment plan to suit your financial needs and ensures that we protect you and your assets. Reach out today, your financial freedom is waiting!
