Confused About Your Debt Review Balances? Let’s Clear the Fog!
We understand that managing your finances during debt review can feel like a winding path with unexpected twists and turns. At National Debt Advisors, we’re committed to ensuring your financial well-being and always ready to guide you through any financial hiccups. One of the questions we often hear from our new clients is about their creditor account balances. In this article, we’ll answer all your pertinent questions regarding the balances puzzle.
Some common perplexities regarding balances under debt review
If you’re confused about why your balance isn’t decreasing or why your account statement differs from your Hyphen statement, you’re not alone. Fortunately, we have the answers. This is why we’re addressing these common questions and providing insights on what to do in such scenarios.
Your Balances Haven’t Budged Since Entering Debt Review
If you’ve noticed that your balances aren’t going down, let’s start by checking whether you’ve been consistently making your payments during your debt review. Missing payments can cause your accounts to fall into arrears, which might lead to creditors adding extra interest charges. However, even if you’ve been making regular payments, there could be other factors at play. For instance, your monthly installment might be set too low, or the interest on your account might not have been adjusted as per your debt review agreement or court order.
Your Account Statement and Hyphen Balance Don’t Match – What’s Going On?
Hyphen PDA provides an estimated balance per obligation on your Consumer Statement. It’s calculated by subtracting your monthly installment from your opening balance. But here’s the catch: this balance may only partially be accurate because the Credit Provider might have tacked on extra charges like late fees, missed payment penalties, and other additional costs. For more details on this, you can refer to the Hyphen website here.
What You Should Do in These Situations
When you’re facing these situations or just unsure about your balances, don’t hesitate to reach out to your dedicated debt counselor. Provide them with your contact details and any relevant SMS or letters from the creditor. They’ll dive into the matter and get back to you with answers to address your concerns.
We’re Making It Easier For You To Stay In Control
You have the power to keep tabs on your accounts with our user-friendly Hyphen PDA portal. It’s like your personal gateway to greater financial transparency and control during your debt review journey. We genuinely care about your financial well-being and are always here to support you at every step of the way.
To access your account details, simply log in through this portal link.
If you encounter any login issues, our support team is ready to assist at 011 303 0060.
Stay in the Know with Hyphen PDA- What You Can Do On The Portal
- Easily track all payments made by your debt counselor.
- Access statements and payment receipts whenever you need them.
- Keep an eye on your remaining balances.
- Check your monthly installment amounts.
- Review the list of creditors on your payment statement.
- Quickly find Hyphen’s banking details for your convenience.