Undertaking a Debt Review is Key to Restructuring Debt
Once you have made the decision to change your life by talking to a debt counselor then you have taken the first step in a new chapter that will turn the page on debt and enable you to take your place as a productive member of South African society, rather than someone who cannot even function due to excessive stress levels. The debt counselor will assist you with the debt review process which will eventually allow you to come to grips with your debt. The first step in the debt review process will be to assess the level of debt and the household income. The next step will be to take into account how much of that income is required for the absolute essentials, such as groceries and schooling. Once the ability to pay has been calculated the next step in the debt review process will be for the debt counselor to contact the parties that are owed money and come to an amicable agreement as to the structure of the debt repayments going forward. The terms and conditions of the debt repayment will be renegotiated so that you and your family can handle the debt in a sensible manner, without the daily worry of legal action or the repossession of your assets.
The stress and strain of modern life can cause problems in interpersonal relationships and the stress alone can be responsible for many physical ailments, including ulcers and heart disease. Without the correct advice debt can only add to these worries, sometimes causing divorce and in certain extreme cases self harm and even suicide. South African legislation makes it both legal and stress to free to restructure your debt.
So if you know anyone who might benefit from the debt review process then don’t hesitate you may be saving a life. Let them know what their rights are.
If you think that a debt review might give you or someone you know peace of mind then contact us to get rid of those sleepless nights.
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