- 2 Ncondo Place, Umhlanga
- 064-537-9686
- info@debtreviewremoval.co.za
What Is Debt Care ?
What Is Debt Care? A Supportive Approach to Financial Wellness
For those facing financial challenges, the concept of “debt care” offers a supportive way to manage and reduce debt effectively. Debt care encompasses various strategies that help individuals regain control over their finances, from managing monthly payments to understanding options for debt reduction. This approach aims to provide a sense of relief and guidance for anyone looking to improve their financial health.
The Principles Behind Debt Care
Debt care is grounded in principles of empathy, education, and empowerment. Debt care strategies typically focus on providing tools for financial management, consolidating debts into manageable payments, and offering insights into sound financial practices. These methods encourage individuals to build healthier financial habits, equipping them with the knowledge to make informed decisions about their money.
Debt Care Strategies for Financial Stability
Debt care methods often include structured repayment plans, debt consolidation, and personalized budgeting advice. By focusing on consolidation, individuals may find it easier to organize multiple payments into one manageable amount, helping to reduce the stress of juggling various debts. Debt care approaches are designed to be flexible, meeting people where they are financially and guiding them towards stability and confidence.
A Brief History of Debt Care
The idea of debt care began gaining traction as more people sought supportive methods for addressing financial struggles. This approach has become a trusted option within debt management, evolving to include educational elements that promote long-term financial literacy. Today debt care remains a go-to solution for individuals looking to rebuild their financial footing and move toward a more stable future.
FAQ'S
Frequently Asked Questions
While debt review can be a lifeline for an over-indebted consumer, it should not be entered into lightly. Over-indebted consumers need to be aware that, once they enter debt review, they cannot apply for new credit and it cannot be exited until all the debts are settled.
How long the debt review process lasts depends on a number of things, such as the amount of debt that you have and how much you can afford to repay, amongst others. Typically, it takes 36 – 60 months to complete the process, be declared debt-free, and get your clearance certificate.
After your initial assessment with a debt counselling company, you may be informed that your current situation does not qualify you to go under debt review. Some of your accounts, especially those which have been subjected to legal action, may be excluded. Your debt may take longer to repay.
Debt review is a legal process, and your payment plan has been accepted by all your creditors. A court order has also been granted. If you default on your plan, you are breaking your agreement and your creditors are within their rights to initiate legal proceedings.
Q: I want to remove my name under debt review but have not finished paying my debt. Is it possible? Yes, this can be done if your debt review was made an order of court and the court order is subsequently rescinded OR an application is made to court to have you declared “not over-indebted.”
The process shall be completed within 15 minutes in which you will be advised of the appropriate action to terminate your debt review and clear the flag from your credit records. The once-off Assessment fee of R85 is payable upon submitting the service request form and the assessment process will commence immediately.01 Jun 2020
How long the debt review process lasts depends on a number of things, such as the amount of debt that you have and how much you can afford to repay, amongst others. Typically, it takes 36 – 60 months to complete the process, be declared debt-free, and get your clearance certificate.
About Us
We are a debt counselling / debt review company based in Durban, South Africa. We help South Africans get out of debt fast. Contact us for a free debt assessment.
Contact us
- 2 Ncondo Place, Umhlanga
- 076 627 3737
- info@debtreviewremoval.co.za