Can I Settle My Debt while under Debt Review
If you’re looking for a debt solution that will provide you with lasting financial relief, you may have wondered: can I settle my debt while under debt review?
Many people still don’t know what to expect of debt review or if it will actually work for them. Being in debt and not being able to manage it is very difficult. It is best not struggle alone, as a professional, such as NDA, could put a plan in place and your mind at ease right away.
We will provide you with immediate financial relief and guidance to get you back on your feet again. But, will signing up for the debt counselling process really help you to settle all of your debt?
The answer is yes, absolutely! Debt review is a proven, structured legal debt relief process, whereby a debt counsellor does a financial analysis and comes up with affordable payment arrangements on your behalf. Accordingly, you will be able to manage your financial affairs hassle-free.
If you are in financial trouble, you have probably asked yourself: can I settle my debt while under debt review? Well, debt counselling was designed for just that – to ensure you can afford your monthly debt repayments, and pay them off in full eventually.
If you are struggling financially and can barely make it through each month, debt counselling allows you to make smaller payments over a longer period of time. Moreover, your debt counsellor will negotiate with your creditors for reduced interest rates too.
Creditors will almost always agree to reduce monthly payments over an extended term, as they just want to be assured that they will be repaid, no matter how long it takes you.
Some people falsely believe that going under debt review means that you become blacklisted. This is absolutely not true. In fact, debt counselling will protect you from blacklisting, as long as you haven’t been blacklisted already. Furthermore, it’ll protect you from creditors taking legal action against you.
Related posts
National Minimum Wage: What You Need To Know
The National Minimum Wage is an important move toward making sure everyone gets paid fairly. But it's about more than just the money. In this blog, we'll look closely at the South African minimum wage per month, how it changes things for both employees and employers...
Loans For Bad Credit: What Are Your Options?
With over 42% of the 23 million credit-active consumers falling behind on their debt repayments, loans for bad credit are a common thought among South Africans. In this blog, we're digging into all things bad credit loans South Africa, shedding light on the...
Getting Loans Blacklisted: Understanding the Dynamics
When it comes to obtaining loans blacklisted, it's crucial to understand that the drawbacks often outweigh the benefits. If you're ever in a situation whereby you need a loan but are blacklisted, seeking financial help can feel like an uphill battle. In this blog,...
