Debt Review Success: Tip #1
Debt Review Success Tips
Debt review is an amazing process that helps financially stressed people pay off their debt in a manageable manner. Debt review is part of South Africa’s law (incl. the National Credit Act) and is designed to provide relief to stressed consumers while helping credit providers recover their funds over time.
When consumers enter debt review they often have long conversations with their Debt Counsellor about how how the debt review process works. Armed with that information (and maybe a helpful guide to the process produced and shared for free by Debtfree Magazine) consumers begin the process.
Debt review can be tricky and life will keep getting in the way of your plans to repay all your debts. Over the next few days, we will look at some tips and tricks which can help you get the most out of your debt review and make a success of the process.
Always talk to your Debt Counsellor
If you are unsure how some part of the process works then pick up the phone or open your email program and reach out to your Debt Counsellor.
This is much better than heading onto the internet and looking around for information. Rather speak in person with your Debt Counsellor who intimately knows your particular situation.
Much like your personal doctor will have a better idea of what medicine you already take and your entire medical history, so too your Debt Counsellor knows your situation better than some random person on Facebook.
People online may offer you ‘good’ advice…but what if that good advice does not apply to your situation? More often than not, their advice will actually be very bad because of a lack of professional training, a personal agenda, a misunderstanding of your situation or your overall debt situation.
If you get a call and are pestered by any of your credit providers (or if someone calls offering you more credit) then you should not interact with them but contact your Debt Counsellor.
If you are suddenly presented with a difficult financial situation that could impact your ability to repay your debts on time, then you should speak to your Debt Counsellor.
Getting a raise, bonus or come into some unexpected money? Then contact your Debt Counsellor for the best advice on what to do next.
You get the idea. Whatever the situation might be (good or bad) it is best to speak to your Debt Counsellor.
Speak To Your Debt Counsellor