Our Editor’s Note
Debtfree Magazine Issue 6 of 2022 – Editor’s Note
Getting into debt is far easier than getting out of debt.
Most people will never get out of debt, it will be their constant companion till the day they die. For most people, it is just an accepted fact of life. Many people are sinking deeper into debt simply to pay the debt they already have, and as we know, having a lot of debt is really stressful.
So, ask yourself do I need less stress or more stress?
If living with debt is stressful, then having no strategy on how to pay it off, is even more stressful. Thank goodness for debt review. Thank goodness for credit providers who go even further than they have to and offer massive reductions in fees and interest through the process. Country-wide consumers are turning their lives around and paying off their debt through debt review.
In this issue, we discuss how bad decisions in month 3 of the debt review process can cause chaos for years to come. This is definitely something you want to avoid, and the realities for month 3 hold true for most months during the process so, even if you have been under debt review for a while, be sure to check out the article.
We also have some interesting news about different credit providers and how a collections company found itself facing a R1.2 million fine for their bad behaviour, ouch!
As usual, this issue is jam packed with information to help you stay current with the debt review process and deal with your finances. We have reviews, interviews, tips, advice and more. Be sure to read about how you can avoid a very common scam going around at the moment.
Yes, it is admittedly, more fun getting into debt than the slow and steady process of getting out of debt. After all, you have to be consistent and never miss a payment over time, there is nothing sexy or flashy about that. It is just a slow and steady slog towards freedom. But consider how with each repayment your debt (and stress) levels are reducing. So, keep up the good work, if you can get through this month, you can go all the way. Don’t be just another debt slave, stick with the program and become debt free.
This article first appeared in Debtfree Magazine issue 6 of 2022