The credit information amnesty implemented on 1 April 2014, has left many South African consumers confused about what the credit amnesty means for them.
19 December 2015
The New Year for many represents an opportunity for new beginnings and of course New Year resolutions. Many people make a list of lofty goals they would like to achieve in the New Year. For some it is buying a house, starting a business, living a healthier lifestyle or even getting out of debt.
Getting rid of debt is not a New Year’s resolution that is openly shared, but it is an issue that many people struggle with. Being over-indebted is often accompanied by feelings of stress, shame and guilt and as a result many people would never reveal to their friends, family or colleagues that they are in financial distress.
If you are struggling with debt, you are one of 10, 5 million South Africans in a similar situation. Debt review could be the best solution to help you get your life back on track. The debt review process was introduced in 2007 with the National Credit Act (NCA) when the government realised that so many South Africans were struggling with debt and were often losing assets as a result.
What is Debt Review?
Debt review is a process where a debt counsellor works with you to restructure your debt repayments to an amount that you can comfortably afford to pay. Once the new plan is in place, the debt counsellor gets an order from the court which will give you legal protection from your creditors (as long as you make a full payment every month). Once your debt is paid off, you will be issued with a clearance certificate.
How you know you need Debt Review?
If you have a regular income but are struggling to pay your monthly living expenses and debt repayments, debt review could be the best solution for you.
DebtBusters can give you a free credit check and a full debt assessment to help you understand your debt situation. They will advise you on the best way to get rid of your debt.
Why Debt Review with DebtBusters?
At DebtBusters, the award winning debt management company, you will have a personalised experience with a team of highly qualified and experienced consultants who will walk you through the process step by step. DebtBusters does all of the work for you but gives you complete insight and control through its innovative customer portal, Smartcents. DebtBusters debt counsellors go the extra mile by ensuring that you are taught how to budget and manage your finances in order to spend accordingly and keep up to date with your debt review payments.
If you need of help with your debt, call DebtBusters today on 0869 99 0606 today or fill out our free call back form on www.debtbusters.co.za. You have nothing to lose, except the debt.