Written by: Casper le Grange
Article source: JOY! Magazine

Asking questions educates you about a specific topic. I have put together a list of some of the most frequently asked questions to help you understand more comprehensively what debt review is.

In short, what is debt review?
Debt review is for people who cannot afford to pay all their Credit Providers (Creditors), or if they do they are left with little or no money for the rest of the month. The Debt Counsellor assesses the consumers’ debts, rearranging the debt and putting a repayment plan in place that is affordable to the consumer. Debt review also provides safety for your assets, including your house and car.

How do I know if I need Debt Review?
As soon as you become over-indebted. A consumer is considered over-indebted if the money left after paying essential expenses is not enough to pay their debts.

You need debt counseling as soon as you are unable to meet your debt obligations.

Some indications that you are over-indebted include:

  • You use your credit card and overdraft facilities to pay debts and buy food and other necessities
  • You borrow money to pay other debts
  • You skip payments on some accounts in order to pay others because you cannot keep up
  • You cannot pay your bills at the end of the month
  • You receive letters and summonses from creditors and/or lawyers
  • You are considering being placed under administration
  • You have judgements granted against you

Is Debt Counselling the same as Debt Administration?

No, Debt Counselling / Debt Review is not the same as Administration. The difference between the two are as follows:

  • Debt Counselling has no limit to the amount of debt and can also include your properties and vehicles. Debt Administration has a cap of R50 000.
  • With Debt Administration you are “blacklisted” while with Debt Counselling you will only be flagged at the credit bureaux and you will be cleared after a clearance certificate is issued by the Debt Counsellor (or you withdraw).
  • Debt Administration fees are much higher than Debt Review costs.
  • Debt Review is focused on consumers with assets and larger debts, where Debt Administration is the answer for consumers with smaller debts.

Will my policies be effected by Debt Review?
Not at all. Provision is made in your debt repayment plan for all your insurance policies. In fact, if you have vehicle finance, you will be compelled to have insurance on the vehicle. There is no use sitting around wondering if something is going to work for your situation or not while your problem continually grows. I would like to encourage you to send us your questions if you would like to know anything about the Debt Review process. You can WhatsApp us on 061 432 8499. And please remember our assessments are obligation free and 100% confidential.

In Article - DCG SA

Casper Le Grange is a registered debt counselor with the National Credit Regulator, NCRDC1560.

DISCLAIMER
JOY! Digital is a Christian portal that shares pre-published articles by writers around the world. Each article is sourced and linked to the origin, and each article is credited with the author’s name. Although we do publish many articles that have been written in-house by JOY! journalists, we do not exclusively create our own content. Any views or opinions presented on this website are solely those of the author and do not necessarily represent those of the company.

Return to Home
More quality content if you check those pages xxx; filme porno; xnxxfr.org; xxnxx; xvideosxnxx.org