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  • Debt review

Description

Price : Price On Call
Date : March 10, 2020
Location : 135 ON MAIN, 135 Main Road, Claremont

Debt review, otherwise known as debt counselling, is a debt solution targeted at South African consumers who are over indebted and struggling to balance their finances.

The National Credit Act (NCA) introduced the formal debt rehabilitation program, debt review, in order to prevent consumers from being placed into personal administration and having to deal with the long term effects. The process was also implemented in order to make sure that debt counsellors follow strict and ethical guidelines when assisting clients with gaining their financial well-being.

Debt review is the process whereby a debt counsellor assesses a client’s outstanding debt and implements a restructured debt repayment plan. This will be done through the process of renegotiating interest rates with credit providers in order to reduce them, as well as by extending the debt repayment terms.


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