If you continue to miss payments, you will eventually be handed a Section 129 Notice – the final step before legal action is taken against you for neglecting your debt. But, what are you expected to do once you receive this? Here are a few pointers you should keep in mind: 1. Do not ignore […]
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
Many people use the words credit and debt interchangeably, as though their meanings are the same. DebtBusters explains the terms to clear the confusion. What is credit? There are so many ways to define credit. It could be the amount that is available for you to borrow or it could be your ability to borrow. […]
Many people are trying their best to lead a debt-free life. Even though it has its perks, incurring debt can also be a good thing. You just need to differentiate between good debt and bad debt. In short, good debt helps you generate income and bad debt doesn’t. Below are examples of good and bad […]
Spring is a great time to reflect on your finances. You might have taken more debt than you can repay or spent more than you can afford, but there are four steps you can take to bring renewed hope to your finances. Review your budget Our goals change now and then. So, this may be […]
People move in and out of the country for different reasons. In many cases these people carry more than their luggage with them, they carry their debt, and some of them are under debt counselling. This is usually a cause for concern for these individuals as they don’t know how their migration will affect their […]