If you are under strain with a lot of debt and feel anxious about your financial situation, you need to look at using a debt counsellor that will be able to put you under debt review.
Under debt review you are safeguarded form creditors as long a you keep to the repayment amount that the debt counsellor arranged for you. In the beginning of the process of application of debt review the debt counsellor will arrange this repayment amount on your behalf.
The debt counsellor will assist you in preparing a budget of your income and expenses. From the budget he will be able to calculate the surplus amount available to your creditors.
He will also leave some surplus for you to live from. The surplus amount available will then be distributed on a monthly basis to all the various creditors.
If the below are true, you need to contact us to apply to be under debt review:
- Your expenses are more than your income
- You have a lot of different credit cards and loans and struggle to service or pay them
- You regularly skip monthly repayments of loans or credit cards and the credit provider start phoning you regularly.