|
The New Alternative
to Take Control Over Your Debt in South Africa.
The reason why the South African consumer is finding it difficult to make full monthly payments to their creditors is because of banks and other financial organizations lending to easily and aggressively to consumers in the past. That is why so many consumers are so deep in debt and cannot cope with their monthly credit payments.
There is good news now! That is all thanks to the National Credit Act that came into effect as from June 2007. You think that there is no way out of your suffering ongoing financial circumstances, but now you can get HELP the easy way by applying for debt counselling with the help from the National Credit Act.
What Debt Counselling can do for me!
- We protect the over in debt consumer from those aggressive creditors who do not even try to understand
Debt Counselling Option has found that many people are struggling with debt today in South Africa,
because of the economical situation we find ourselves in. Debt that was previously manageable is
becoming more difficult to cope with because of the price increases and our monthly income that hardly ever
increases.
Debt counselling in South Africa therefore protects the consumer from any legal action taken by the creditors.
- Both parties, consumer as well as creditor, benefit from debt counselling in many ways. We negotiate lower
manageable monthly repayments and the creditors are not forced to take expensive legal actions or
write off any bad debt. On many occasions not even being able to recover the debt at all.
- The banks in South Africa are also looking for other ways of repossession and therefore don’t want
to repossessyour assets unless they have no alternative.
- Although the debt counselling process can take some time, approx. 60 working days, the consumer is
protected within 5 working days during the application period.
- The debt counsellor negotiates with the creditors during this period on the consumer’s behalf.
- Creditor’s more willingly negotiate with a debt counsellor than a consumer. This is because at this stage the
creditor realizes that the consumer is really struggling to make payments meet and therefore seek help.
- It is pleasing to the creditor to realize that the consumer is finally making an effort to repay debt and
knows that the debt counsellor is there to help the customer.
- The creditor is aware of the fact that the debt counsellor is working under the National Credit Authority and
therefore looking after the consumer’s legal rights.
How do I qualify?
- You have to earn an income whether self employed or an employee of a company.
- You have to have money left after the essential living expenses have been deducted and before any debt
payments have been made. This means your day to day expenses for example food, transport, rent etc. in
other words survival costs.
- After these expenses you should have money left and this will go towards the creditor’s payments. This will
be offered to the creditors for new payments each month that suites your pocket.
The over in debt consumer’s worst nightmare starts when he does nothing and just waits for a miracle to happen or the situation to change. Well guess what? Debt Counselling is the answer to your situation but you have to take action before you get that summons from a creditor. That is why if your current financial crisis is left for to long then not even debt counselling can help you.
The time to take action is as soon as you find your income not covering all your monthly expenses. Remember that if you receive a summons it is out of our hands and therefore the creditor has no obligation to listen to the debt counsellor. Therefore this aspect is crucial. Get help before it is to late.
Help is available today if you apply for debt counselling. Step by step we will help you through this. You can and will feel in control over your life again.
Contact us for free advice on your debt or debt counselling.
Other links:
|
