Loans for people under debt review?
Posted on Jan 3 2013 at 03:35:08 AM in How-To
Three things you need to know when applying for debt consolidation with debt review.
We’ve made the ins and outs of this form of debt management straight forward. Know what to expect when applying for debt review in South Africa or shape up on your knowledge if you are already in debt review.
You cannot get loans under debt review
The whole idea behind debt counselling is helping South Africans out of their debt in the most affordable way. Applying for more credit is the last thing you should do when you are struggling with debt.
When you feel that the budget your debt counsellor has created for you is too strict and you want a loan, rather get back to your debt counsellor or contact us to learn more about the challenges of loans for debt review clients. We can decide with your help if you want to change debt counsellors.
You will have a budget
It is imperative that you stick to your budget to make ends meet. While your debt repayments are reduced under debt review, an optimum payment plan is put into place so you can pay back your debt in the shortest time possible.
Only one repayment
You will pay a Payment Distribution Agency when you are under debt review. This is very convenient as you don’t have to keep track of your loans anymore. Debt review is like consolidating your debt because your debt counsellor can make your debt more affordable, negotiate lowered interest rates and you only pay one repayment per month.
If you’re not sure if you qualify for debt review, need more information or the advice of a qualified debt counsellor, don’t hesitate to contact us by filling in your details. We will get back to you within the next working day.