Drowning in Debt? Get Lifeline with Debt Review
Drowning in debt? Grab this lifeline

Drowning in debt? Grab this lifeline

There are 19million credit-active consumers in SA, of whom about eight million have impaired credit records. Around 14% of these have judgments recorded against them or are under administration. Since June 2007 this figure has steadily grown as the demand for credit increases.

Most consumers in SA cannot carry the burden of their debt in relation to their income

the demand for debt counselling and debt review rose this month. The promulgation of the National Credit Act has forced creditors to grant credit under stringent assessments, but many lenders continue to grant credit recklessly, while many consumers are not cutting back expenditure or ranking which expenses are essential and which are not.

Debt review offers consumers a lifeline. Consumers who are over-indebted and cannot meet their monthly debt obligations may approach a registered debt counsellor for assistance. Once a financial assessment has been concluded and the consumer is found to be over-indebted, his monthly instalments can be reduced so he pays only what he can afford.

Bonds, car repayments, credit cards and all credit facilities may be included under debt review. Debt review offers consumers the opportunity to restore their financial standing while keeping their assets (creditors may not remove consumers’ assets nor litigate while the debt review process is before the court).

Now is the time to act if you are feeling the strain of your debt obligations. Should you not meet your monthly contractual debt obligation, creditors will take legal action, then it is sadly too late for debt review.

It is not worth the risk of losing your property or being sequestrated when a lifeline such as debt review has been put in place to protect consumers and reduce their monthly debt obligations. Debt review is a benevolent process engineered to assist the man in the street – take advantage while you can.

Are you drowning in debt and feeling overwhelmed by financial obligations? Take action today and explore how debt review can help lighten your load. Our experienced team at Zero Debt is here to guide you through the process, offering a lifeline to restore your financial freedom. Contact us now for a free, no-obligation assessment. Don’t wait until it’s too late—take control of your financial future today.