You notice most of your salary is going towards your debt repayments each month, you cannot afford to put money towards a savings account, you purchase your groceries with your credit card, and your credit applications are being rejected. These are all signs you’re carrying too much debt. But how much is too much? A […]
What is Debt Management?
Debt management is a debt solution targeted at South Africans who struggling to make debt repayments, but are not yet classified as over-indebted.
DebtBusters debt consultants will help clients organise an affordable, realistic and structured monthly budget and debt management plan. Debt management also consists of helping clients, facing financial difficulties, solve their debt problems and empower them to take back control over their financial situation by negotiating with creditors and initiating a payment plan. Debt management will provide clients with a guideline for eliminating and remaining out of debt.
Benefits of debt management:
- DebtBusters debt management consultants offer free, unbiased and expert advice on how to reduce debt
- A debt plan will enable clients to stay on top of their finances
- Debt repayment plans and budgets are tailored to the individual financial particulars of the client
- Educates clients on how to reduce and manage debt, negotiate payment terms with creditors and constructively become debt free by gaining financial independence
- Helps clients keep control of their money and make well informed decisions about monthly debt payments
- Supplies clients with structured and helpful debt management tools needed to gain financial independence
- Reduces debt repayment amounts and increases cash flow by managing debt
Read what DebtBusters clients have to say about us, in our DebtBusters case studies section.
More Articles about Debt Management
You may be familiar with the term “debt counselling”, but perhaps you have questions around the process and specifically how long it takes to complete. While the general time frame is 60 months or between 3 to 5 years, it is dependent on how much debt you have and how much you can afford to […]
If you’re struggling with managing your debt, you may be considering debt counselling or a debt consolidation loan as possible solutions to ease the financial strain. It is important to understand the difference between these two debt solutions, as although both are aimed at making managing your debt easier, they are two differently designed processes. […]
Debt counselling is a journey which requires dedication and commitment for up to five years of your life, so we know receiving a clearance certificate at the end of the journey is a momentous occasion for both our clients and our staff who walk side by side them during this time. DebtBusters has already issued […]
As we’ve just celebrated our country’s 24th year of democracy, those who have taken control of their finances and embarked on the Debt Counselling journey have even more to be proud of. Just think how great it is going to feel to get to that point of real financial liberation! Now that is true freedom. […]