Full Description: DEBT REVIEW
Generally speaking clients divide their budgets into four:
General household expenses [food, travelling, rent, telephone etc.]
Credit [loans, clothing accounts etc.]
Spending [movies, cash purchases etc.]
Savings
However, when the Credit portion becomes so high that it soaks up savings, spending monies and much of the money available for general expenses, it is then that clients find it ever increasingly difficult to meet their financial commitments. It is then when debt review becomes an option in order to normalize the budget and to bring relieve.
The Debt Review Program works as follow:
- You need to be over-indebted to qualify for the program. That means that your income per month must be less than your total expenses [general, credit and spending expenses] for the month.
- Only you can make the decision whether you want to go for debt review or not. All processing will be done via email and or fax and no embarrassing questions will be asked. Confidentiality will be respected.
- Upon receiving your request for debt review a registered Debt Counsellor will contact you.
- Your Counsellor will guide and assist you and will also negotiate the best solution for you.
- Your Counsellor will negotiate with your creditors, on your behalf for different, but more affordable instalments and or down payments.
- Should the creditors not accept, your Counsellor is in a position to offer an alternative payment arrangement (with different instalments). Should one of the creditors not accept this offer, the matter will be taken further in an effort to enforce the solution.
- Once all debt has been paid / settled up to date, your name is removed entirely from the Credit Bureaus and your name is CLEANED. No trace of “under debt review” will be found.
The whole idea of debt review is to reduce your monthly instalments in order to put money back in your pocket and improve your quality of life.
Team: Southern Money - Taking You Beyond The Future
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