Loans can be a good way to help you get ahead in life. But, if you don’t manage your finances properly, make your repayments on time or control your spending, loans can be just as destructive.
For example, let’s say you have FNB, Capitec loans or some other credit prover, and a few months later you realise…
Most of your income goes towards repaying loans.
A high debt-to-income ratio indicates that you need to reduce your debt. At NDA, we work out this ratio for you, to determine if your loan repayments are too high for you to manage.
You cannot stay on top of who, when or how much you owe.
Not having a clear idea of how much you owe to whom indicates that you’ve taken on too many loans than you can handle.
You have to take out new loans to pay off existing ones
Resorting to taking out personal loans to pay off say, Capitec loans, for example, will only trap you in a vicious debt cycle. It will become ever more difficult to break free from the debt trap, the more and more you take out.
As soon as you start doing this, please get in touch with National Debt Advisors immediately for help. This is a very dangerous situation to be in.
You’re avoiding Capitec, Wonga etc.
If you are too scared to read your emails or letters from Capitec, Get Bucks, or whoever you took out loans with, because you cannot afford to repay them, then you need to contact National Debt Advisors at once for help.
Pretending that Section 29 Letters of Demand, Overdue Payment Notices and Summons don’t exist will only make your situation much, much worse.
Whereas, applying for debt review with National Debt Advisors will provide you with immediate debt relief and legal protection. To find out more, get in touch now – before it’s too late!