Debt mediation in Sandton and around the country is seen as an informal version of debt review. Often criticised, the problem is the drawn-out, complicated nature of debt mediation, not allowing for a single combined payment plan, as with debt review.
In the majority of cases, over indebted consumers have collection of loans, accounts and cards, with a number of different credit providers. If you wanted to reduce your monthly payment, your debt counselor would have to negotiate with all of your credit providers one by one. This becomes labour intensive and costly, and without the legal protection to the extent of debt review, the costs could rise again at any time, if the creditor decides.
For debt solutions across South Africa, Sandton to Pretoria and Cape Town, contact the National Debt Advisors today. Phone us or contact us online and one of our professional consultants will call you back.