As the South African economy is going through testing times, with increases in electricity, petrol and food costs, people’s incomes have lost its purchasing power, leading to high reliance on credit for day to day consumption. This has tipped many consumers over the financial edge and more and more consumers are turning to debt counselling to help them manage their finances.
27 November 2012
What is the difference between being under ‘debt review’ and being ‘under debt counselling’? How does each affect an application for a second bond?
Basically they are the same with the debt counselling coming from the debt counsellor and if the consumer qualifies then they are put under debt review. Therefore both will mean you cannot take out any further credit.