Can’t Pay Because of Storm Damage?
When It Rains, It Storms
If you were recently affected by the storms in the Western Cape or extreme weather along the coast then we want to extend our sympathies.
Extreme weather events are becoming more common than ever before and they can really disrupt or threaten our lives.
Recently, extreme high tides and devastating downpours left many areas flooded, properties and possessions damaged, cars destroyed and severely impacted on power supplies and internet services.
As a result of the flooding and damage, some businesses were also unable to open for several days and many people were simply not able to get to work.
If you have been affected by one of these recent events then you may also now be stressing about making your regular debt repayments at the end of the month while still dealing with the fall out of these severe events.
If you were affected then it is recommended that you reach out to your Debt Counsellor urgently and ask them to speak to your credit providers about a reduced or delayed payment.
‘ask them to speak to your credit providers about a reduced or delayed payment’
If you can provide photographs or documents from work and a motivation for the delay or reduction it might be possible to work something out with most of your credit providers. It is also good to provide a plan to catch up missed payments if you can, even if this takes several months.
If you have insurance on your debts (such as through ONE or DCCP) you might also be able to claim from credit life insurance cover, depending on the benefits included. This might cover any missed debt review repayment for the month. Speak to your broker or your Debt Counsellor about this.
Don’t Just Miss Payments, Make Arrangements
Please do not simply miss a payment and try ignore your debt review obligations. This could result in credit providers wanting to start new legal collections processes that are both stressful and costly to fight. It is better to reach out to them and make an arrangement if possible.
Remember your Debt Counsellor is there to try and assist you and your credit providers are also aware of the storms. Many of their staff were similarly affected.
‘Ask your Debt Counsellor about the 17.3 process’
Ask your Debt Counsellor about the 17.3 process and if anything can be done. While they are not miracle workers, they will reach out to your credit providers and see what can be done to help cushion the blow.