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Question Debt Counselling and how it works

Do I need debt counselling?

27 November 2012

Debt is a widespread problem in South Africa that is rapidly increasing through the country and the majority of consumers are now in need of debt counselling.

Determining whether you are in debt and in need of debt counselling can be done by asking yourself the following questions:

  • Are you being hounded and hassled by Credit Providers?
  • Are you struggling to make your monthly debt repayments on time?
  • Are you paying for household expenses on credit?
  • Do you have garnishee orders against your salary or various assets?
  • Are you struggling to service your debt problems and pay off your loans?
  • Would you like to avoid bankruptcy?
  • Do you want to be debt free and no longer have bad credit?

If you answer YES to most of the above questions, DebtBusters debt counselling service is the right of option for you.

If you cannot afford your debt repayments, the best thing to do is to contact a debt counsellor that is registered with the National Credit Regulator (NCR). DebtBusters will conduct a full assessment on your financial situation and advise you on whether or not you are in need of debt counselling.

If you are over-indebted, DebtBusters will introduce you to the process called debt counselling. A debt counsellor will take into account your income and expenses and will work out a new debt repayment plan comprising smaller instalments and extended terms. Most importantly, the debt counsellor will conduct various checks to make sure you can afford to repay your debt.

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Debt counselling reaps many benefits for South African consumers:

  1. Your debt will be restructured. Your income and expenses will be taken into account and you will now be able to afford your debt.
  2. A registered debt counsellor will negotiate with your credit providers on your behalf.
  3. You will make one monthly payment to a payment distribution agency, who will then pay your credit providers.
  4. Interest rates will be reduced and debt repayment terms
  5. You will be legally protected and no longer hassled by credit providers.

Contact DebtBusters today on 0869 99 06 06 for financial advice and take the step to becoming debt free and stress free today. Debt counselling could be the right option for you!

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