Debt Counselling – Why Do You Need It?

South Africa has a debt problem. As more and more South Africans are becoming heavily indebted, the need for them to sign up for debt counselling is now more than ever.

With debt counselling, you can regain control of your finances and alleviate your troubles.

Debt Counselling 101

Debt counsellors are certified, trained professionals who help you deal with your rising debt. After reviewing your application and financial circumstances, they develop a practical action plan that suits your financial needs and objectives. This includes developing a realistic monthly budget that will enable you to repay your debts. More importantly, they will speak with your lenders and negotiate a repayment schedule so that you pay lower interest each month.

Debt counselling companies have a single goal: to settle your debts. Generally, the settlement period varies from one case to another, depending on how much debt an applicant owes.

How will it benefit you?

Any individual can apply for debt counselling. However, not everyone will qualify for it. You need to be heavily indebted or over-indebted to qualify. In other words, if you cannot meet your financial obligations on time, you may be the right candidate for debt counselling.

Here are some benefits of counselling:

  • Your debt will be restructured so that you can afford repayment. Debt restructuring will also consider all your expenses as well as your monthly income.

  • A counsellor will set aside a certain part of your income for food, transport, bills, and other necessities. The remaining money will be spent on paying your debts.

  • A counsellor will simplify financial management for you. They will explain how you can cut your monthly expenditures to live a comfortable life, without loans.

  • Banks and other lending agencies respond more positively to registered debt counselling companies. They will negotiate with your lender to ensure you get reduced interest rates and better debt repayment terms.

  • You will have to make only monthly payments to your debt counselling company. They will pay all your creditors. Besides making payments simpler, this also reduces your banking fees.

  • Lenders will not hound you because the counselling agency will legally protect you.

Signs you need debt counselling…

  • You are bankrupt

  • You are being harassed by lenders

  • You are unable to make monthly repayments in a timely manner

  • You are overburdened by debt and wish to be debt-free again

If debt is taking over your life and happiness, you do not have to suffer anymore. Credit Matters specialises in debt counselling in South Africa. As certified, licensed debt counsellors, they offer comprehensive, affordable debt counselling to help you and your family resolve your financial issues.

Do not wait; call now at 0861116197 or fill out this convenient form to receive your FREE credit report.