REGAIN YOUR FINANCIAL FREEDOM TODAY

Cape Town - Many credit active consumers are struggling to keep up with their monthly repayments be it on their mortgages bonds, car loans, credit cars etc. When you find yourself in a position where you fall behind on your repayments its usually a sign that you are over indebted.
Once you default on your credit repayments, creditors' attorneys will come after you! You will have to pay legal costs in addition to your original debt and the interest you owe. The result of this is usually more debt, a judgement against you, garnishment of your salary, repossession of your possessions and/or poor credit rating.

This may sound like you will be stuck in a dead end, however the Government passed into Law a bill called the National Credit Act in 2005 which protects over indebted consumers from legal action. The bill provides consumers with a mechanism where by they pay off their debts in an affordable way while protecting their possessions. It allows an over indebted consumer to get counsel and advice from a Registered Debt Counselor who will assess the consumer's financial situation and renegotiate lower repayment terms with creditors resulting in a reduced, affordable and fixed monthly payment. The process that allows for such is called Debt Review. Once a consumer goes under Debt Review, they are relieved of being harassed by creditors and are protected from legal action being taken against them.

If a consumer opts for Debt Review, they will have more money each month. This is because the Debt Counselor will help you work out a budget that suits your lifestyle expenses. In some cases Debt counselors can reduce the amount you pay your creditors by up to 40% a month. Debt Counselling is the quickest way to regain your financial freedom with a clean credit record.