Debt counseling was formally introduced by the National
Credit Act to help over-indebted consumer. It goal is to develop a repayment
plan which is reasonable to you, as well as adequate to all your credit
providers. It is there to assist you, so why not make use of it?
Debt counseling is a very effective and affordable way to
protect your assets and to recover your financial situation when you are in a
tight spot. Debt has a bigger impact on your financial future than you might
realize. It protects you from your creditors and debt collectors. It will
approach your credit providers to discuss your repayments. They will prove to
your creditors that you cannot afford your debt and that you need your debt
restructured around your living expenses.
Your debt counselor can also
negotiate lowered interest rate and penalties fees if you have any. For most
people it’s hard to cut back on living expenses, but it’s still important to
stick to a budget until your debt is under control again. Some South Africans
look for debt counseling when they have bad credit by reaching for help to
reduce the debts and live stress free. For more information visit us:
http://payplansolutions.co.za
