Debt Management

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

May
10

Can I lose my car if I am under debt counselling?

Being in a position where you are struggling with debt is already stressful. Now add the fear of losing an asset like your vehicle due to non-payment, and it is a recipe for financial disaster. But what if you have already enlisted the help of a debt solution such as debt counselling – do you […]

May
10

Overcoming the psychological impact of being over-indebted

Being over-indebted has a negative impact on your personal finances. It reduces your credit score, absorbs your disposable income, and prevents you from building your savings. Added to this, it also has an impact on your emotional well-being. Being over-indebted can contribute to a string of psychological issues, such as anxiety, loneliness, and depression. It […]

May
3

The Emotional Stages of Debt – Where Are You?

Whether they are aware of it or not, some consumers face various emotional stages in the process of becoming over-indebted. While consumers may not experience all of these stages, which don’t always follow in chronological order, it is important to be aware of these stages in order to take action and avoid financial devastation further […]

April
13

How long before debt is written off in South Africa?

If you have been struggling to pay off a certain debt, the question of how long before the debt could be written off may have crossed your mind. According to experts, the answer lies in whether this is considered prescribed debt or not. There are also different time specifications for different loan types. Prescribed debt […]

April
5

The dangers of informal lending

In recent years the number of informal lending schemes in South Africa has grown significantly as people continue to look for new ways to access more money. But is this a reliable and safe way to take out a loan? The term ‘informal lending’ is typically used to describe lending schemes or practices that are […]

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