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Debt Review Success Tips

While paying off your debts via the debt review process there are many ways to ensure you get the best results and avoid problems. In this short series of articles, we are looking at some of the top tips for success while under debt review.

Tip #4

Update Your Details

If you are under debt review then your Debt Counsellor will occasionally call you to check on how things are going. They will get in touch to ensure that you know how things are progressing and when they want to do a review of your situation to check that you are coping. To do so they need your current phone number.

They will also organise that your Payment Distribution Agent (PDA) will email you a monthly statement of the payments made. This not only gives you peace of mind but helps you track (to a reasonable extent) your progress in paying off your debts (though you need to compare what they show with statements and balances from the credit providers and occasionally the Debt Counsellor will have to ensure the credit providers are doing their math correctly). To do so the PDA and your Debt Counsellor need your current email address.

‘always let your Debt Counsellor know if you change your phone number, email or address’

It is not uncommon for people in South Africa to make use of prepaid mobile phone numbers and to change providers without porting over their numbers. It is therefore important that if you have recently changed your phone number or email address that you get in touch with your Debt Counsellor and also let your PDA know. If you don’t you may miss out on vital information or requirements that could impact your entire financial future.

So, be responsible and always let your Debt Counsellor know if you change your phone number, email or address it takes just a minute or two but will help you make a success of your debt review.