What is Debt Review
Debt Counselling is a process based on the NCA (National Credit Act) that allows for registered and accredited Debt Counsellors to assist over-indebted consumers by restructuring their monthly debt obligations, either formally through the courts or informally via a consent order, the latter is however not as frequent as one would expect.
The process is therefore almost always referred to court for formal restructuring to ensure full compliance by all parties involved, this also provides security to the consumer and credit provider alike. The Debt Counsellor will also seek to advise the consumer on how to budget more effectively to ensure that non essential living expenses are removed from the calculations to allow for responsible restructuring of all debts, this results in the consumer settling their debts over the quickest possible terms.
What We Can Do For You
Debt Rite Debt Solutions can help you...
- Reduce Your Monthly Debt Payments (Take Home More Of Your Salary!)
- Avoid Losing Your Car, House or Other Property.
- Stop Credit Providers From Harassing You.
- Avoid "Blacklisting" & Legal Action.
How Debt Review Works
The process provides immediate relief from all current debt obligations thereby allowing for the consumer to maintain their debt obligations with ease, the debt analysis conducted by the Debt Counsellor at the interview stage is based on an affordability assessment whereby the Debt Counsellor will decipher the consumers state of over-indebtedness to ascertain how much of their disposable income can be used toward the restructuring of all debts.
The monthly repayment terms are increased and the monthly installments are reduced to fall in line with the consumers affordability, in some instances the credit providers may agree to reduced interest rates charged over the restructuring term to allow for non protracted repayment terms.