Debt Review Services can be Found
The first step that you need to take when applying for debt review services is to ensure that you have all the information which is required to ensure that your application is successful. You will need a certified copy of your South African Identity Document as well as proof of income and at lest 6 months worth of salary slips. You will also need recent statements from each of your creditors reflecting the monthly installment as well as the settlement amount. If you have been handed over to a creditors lawyers, you will have to submit all relevant legal documentation as well as any judgements against you. If you are married in community of property, all the above documentation must be presented for your spouse. And last but not least you will need to prepare a list of all your monthly expenses.
Once your debt counsellor has received all the relevant information and your application is successful, they can request a credit report from all the relevant credit bureax in South Africa. The next step is to draw up a monthly budget which will eliminate all unnecessary expenditure from your list of monthly expenses and free up funds to help eliminate your debt as quickly as possible. Your debt counsellor will then be able to inform all your creditors that you are receiving debt review services and begin negotiating with your creditors on your behalf.
It is important to note that you will have to destroy all you credit and store cards while you are in the debt review process. You may also not enter into any new credit agreements with any credit providers during this period. Make sure that you follow all the advice from your debt counsellor and adhere to all the procedures and you debt problems will be resolved before you know it.
For more information on debt review services and how the process can benefit you, please contact us.
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