Debt counselling is the process of assisting consumers who have debt related problems. With the total consumer debt exceeding R1.4 trillion in South Africa alone, there is a growing need for professional debt assistance. Debt is unfortunately a harsh reality for many people – with thousands of individuals struggling to make ends meet, assistance is often needed.
A debt counsellor will draft a budget for you – this will reflect your income less your expenses (mortgage, food, school fees, etc.). The debt counsellor will then establish an affordable repayment instalment for you, according to the money you have available. Your debt counsellor can also negotiate with your creditors on your behalf, to obtain reduced premiums for you, allowing you to pay off your debt in a reasonable period of time.
The debt counselling process often includes the following services:
- Professional budget advice
- Payment restructuring
- Negotiating with credit providers
- Monitoring payments
- Providing after-care support
At Help My Debt we handle all the negotiation on your behalf and take care of the entire administration process, as outlined by the NCA. We help you to regain your financial freedom by providing professional debt counselling services according to your unique needs. We work to deliver a professional and focused service to over-indebted consumers.
The Benefits of Debt Counselling
By making use of a professional debt counsellor, you can benefit from the following:
- One affordable instalment
- Legal protection from your credit providers
- Enough money to cover your basic monthly living expenses
- We negotiate on your behalf with credit providers
- You will be on the road to becoming debt free