Debt Counselling

Credit counseling known in the United Kingdom as Debt counselling is commonly a process that is used to help individual debtors with debt settlement through education budgeting and the use of a variety of tools with the goal to reduce and ultimately eliminate debt.

Debt counselling. How much debt is too much. Debt counselling is a formal debt solution introduced by South Africas National Credit Act of 2007. If youre having trouble paying back your debt or keeping up with your payments you may want to talk to a credit counsellor.

Contact creditors and let them know about your situation. A registered charity no1016630 and SC046263. Enter your details in the contact form above for a FREE debt assessment.

Credit counselling services can give you the tools you need to pay off your outstanding debt and even help you form a long-term plan to stay out of debt permanently. Apply for debt review to protect your assets from repossession. A Debt Counsellor may receive the following fees in respect of consumers who have applied for debt counselling.

1 The Debt Settlement Process often negatively impacts a consumers credit scoreInvestopedia 2 According to a study by the Center for Responsible Lending CRL Debt Settlement companies often charge high fees CRL 3 DMPs are legal agreements between you and your creditorsThere are generally no tax implications for full balance DMPs. A good rule of thumb with mortgages or renting is that payments should not exceed more than 31 of your gross income. Debt counselling is a regulated process whereby a debt counsellor negotiates on your behalf with all your creditors to have the term of each credit agreement extended and the instalments reduced.

The following pages will give you the information you need to make the right choices including help to deal with your debt problems how to avoid losing your home and how to get your finances back into shape. When you seek out a credit counseling service it will match you with a credit counselor who can provide advice on how to manage your money and debt help you create a budget and point you to instructional resources and workshops. Debt Counselling Fee Guidelines.

Debt review also known as debt counselling is a debt relief measure in South Africa that helps over-indebted consumers get out of debt. It is a limited company registered in England and Wales company no2757055. Credit counseling is most often done by Credit counseling agencies that are empowered by contract to act on behalf of the.