Debt counsellor – friend or foe?

by | Aug 7, 2020 | Personal Finance

Recently, the debt counselling industry received some bad publicity on national television. To say that it was off-putting to consumers considering debt review is an understatement!

Over the years I have heard many people share varying views on debt review. To some it is a literal lifesaver – to others it is a waste of time. To me it’s simple – how well debt review works for you, is equal in relation to how committed you are to the process.

Debt review is no quick fix to your financial problems – but it is a solution.

I know what it’s like to feel that you are drowning in debt. To feel like the walls are closing in around you. I have been there. I have felt fear of hearing the telephone ring. And I have felt the shame of lying to debt collectors. I have known the helplessness of not knowing where to turn.

However, I have also felt the relief of speaking to a debt counsellor who told me that everything would be OK. I felt the relief of having my collective monthly debt installments slashed from R 5000 /month to R2500/ m – but mostly I felt the relief of having more money left for the everyday necessities my family needed – like bread, electricity and transport money.

In addition to this I had the security of knowing that my home was safe from repossession – and that if ever a debt collector dared to call me again, that I could refer him directly to my debt counsellor. I would no longer have to endure being hounded like an animal for R129/m.

Now unless you have been there, or currently there – or feel you are heading there – you can’t possibly imagine the feeling of relief that debt review brings to you.

Knowing that I can only speak for myself, I have to acknowledge that there are many people out there who tell a different story about debt review. I believe this comes about because they have chosen the wrong debt counsellors. Every industry has its good and its bad practitioners . You get good plumbers and bad plumbers. Good electricians and bad electricians. Similarly, you get good debt counsellor and bad debt counsellors.

A good debt counsellor can save your car, your house and your life. A bad debt counsellor can make you lose it all.

Choose your debt counsellor wisely.

NB***Since you are already on the NDA page, allow one of our debt advisors to assess your situation. You have nothing to lose – and everything to gain by taking control of your finances.

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