Is Debt Review a Good Idea?
You might be finding yourself in a vulnerable financial situation and naturally the question ‘is debt review a good idea?’ might pop up as you try come up with solutions. To answer the question, debt review is one of the best and safest ways to improve your financial situation – and we’ll explain why below.
If You’re Considering Debt Review, You Most Likely Need It
If you’ve gotten to that point of considering whether debt review is a good or bad thing, chances are, you need debt counselling. This is a good thing as living in denial could ultimately lead to your total financial downfall. As with all things in life where we need assistance, the first step is to recognize that you need help.
As for the second step, that would be finding the right kind of help given your circumstances. If you earn an income but no matter how much you tweak your budget you still can’t make ends meet, contact Sandton Debt Counselling. Thousands, if not millions of consumers, are in the exact same predicament – and opting for debt review is the best thing you can do for yourself and your family.
Inflated Living Costs Leave Consumers with Little to Spare
You are also not alone in wondering ‘is debt review a good idea’ as South Africans are feeling the pinch across the nation. A few prime examples are in the general cost of food, utilities, rates and taxes, fuel, gas – and so forth. The very things we need to sustain life are becoming unaffordable, as salaries are not adjusted to accommodate inflation.
Add our current global economic crisis to the mix, and it is like throwing fuel on the proverbial fire. No matter how much you try, you might end up feeling completely defeated. This is where Sandton Debt Counselling can come to your aid and help free up cash to lift the burden.
Why is Debt Review a Good Idea?
As we’ve mentioned, we will tell you exactly why debt review, and opting for debt counselling, can in fact be the ultimate saving grace during financial crisis. First things first, debt review is a good idea if you’re struggling to meet your monthly financial obligations because it is the safest way to repay your debt.
Why is Debt Review Safe?
- Debt Review Offers Consumer’s Legal Protection
In short, debt review offers protection against creditors attempting to take legal action. The moment you sign up for debt review with Sandton Debt Counselling, you’ll benefit from the protection that the NCA affords consumers. This protection prohibits creditors from taking legal action against you for as long as you remain under debt review and make your monthly payment.
- Your Debt Repayment Will Be Greatly Reduced
Your debt counsellor at Sandton Debt Counselling will work tirelessly to negotiate your repayments with each of your creditors. In addition to this, your DC will negotiate interest rates with each creditor – and it is even possible to bring interest rates down to zero.
- You’ll Pay One Monthly Instalment to Cover All Debts
Part of the debt review process is consolidating your debt. So, instead of paying each individual creditor, you’ll have one monthly debt review payment that will cover all of your debts. Although it is case-dependent, it is possible to reduce your total instalment by up to 50% – in addition to the added benefit of paying little or no interest.
- Your Debt Counsellor Will Create a Workable Budget
Your debt counsellor at Sandton Debt Counselling will work with you to create a budget that will suit your income and expenses. The budget is an important part of the process as this will be used in negotiations with creditors too. As the saying goes, you can’t squeeze blood from a stone. At the end of the day, you’ll have a workable budget that will accommodate your debt review payment and other expenses.
- Stick to Your Budget and Enjoy Financial Relief!
If you stick to your budget, you will feel immediate financial relief! As you can see, there is no need to suffocate under the financial pressure. With the debt review process, it is entirely possible to fulfil your debt obligations, and even enjoy life again.
Our Final Thoughts on ‘Is Debt Review is a Good Idea?’
You’ve been Googling “is debt review a good idea” – now you know. We can confidently say that debt review is a good idea if you’re over-indebted. As long as you’re earning an income and you can prove that you cannot meet your monthly obligations, debt review can help.
Contact Sandton Debt Counselling today for an obligation-free assessment via our contact form and we’ll call you back within two hours. If you meet the criteria, we assure you that debt review will offer you a safe and trusted way back to financial freedom!