A: Initially, debt review may impact your credit score, as it involves restructuring your debt and negotiating new payment terms. However, once you complete the debt review process and become debt-free, your credit score can improve over time as you demonstrate responsible financial behaviour.

A: No, during debt review, you won’t be able to use your credit cards. As part of the process, you’ll need to refrain from incurring new debt to successfully manage your existing obligations and work towards financial freedom.

A: The duration of debt review varies based on individual circumstances. It typically takes a few years to complete, as it involves restructuring your debt and negotiating with creditors. However, you’ll start experiencing relief from the first month, and the timeline ultimately depends on the total debt amount and your commitment to the process.

A: Debt review primarily applies to unsecured debts like credit card debt, personal loans, and store accounts. Secured debts, such as mortgages or car loans, are not usually included in debt review, but the process can free up cash flow to help you manage these payments better.

A: Yes, while under debt review, you’ll be protected from legal actions, such as asset repossession or garnishments, as long as you stick to the agreed-upon payment plan. Debt review provides legal protection to ensure a fair and orderly resolution of your debts.

A: Being employed is generally a requirement for debt review, as it assures creditors that you have a source of income to repay your debts. However, there might be other debt relief options available for unemployed individuals that our experts can discuss with you.