Is Debt Review a Good idea?
We have had so many users ask us this question and decided that we will outline the basic pros and cons, so that you can decide for yourself. Debt Review surely has more pros than cons and if you do need assistance with your debt, simply contact us below and we will get back to you as soon as possible.
The pros of debt review:
There are quite a few pros debt review provides and since we get asked this question allot, we decided to outline these benefits for you of going under debt review.
One fixed monthly payment
The biggest benefit of debt review is that you will only have to pay one fee that will cover all your expenses regarding your creditors. This will mean that since you have less debt to pay, you will have more money available to use on other things, so this will give you more freedom on your monthly expenses.
No more calls from Creditors
Once you are registered for debt review, it will entail that you do not have to deal with any contact from your creditors and the debt counselling company will take control of that for you.
No Blacklisting
Another big benefit is that the NCR protects you from being blacklisted. This will immensely benefit you, since blacklisting is another issue that you do not have to deal with.
The cons of debt review:
Even though being on debt review may protect you against creditors, it will be noted of this status at the credit bureaux, until you settle all debt, you will not be able to incur any further debt.
Because of the fact that you requested lower repayments from your creditors, your debt will be repaid over a longer period. If you are married in community of property, both you and your spouse will need to apply together to go under debt review. Apart from the above, if a proper debt review company assist you, you will be better off in the short term.
3 Major Benefits of Debt Review
One Fixed Monthly Payment
The biggest benefit of debt review is that you will only have to pay one fee that will cover all your expenses regarding your creditors.
No More Calls from Creditors
Once you are registered for debt review, it will entail that you do not have to deal with any contact from your creditors and the debt counselling company will take control of that for you.
No Blacklisting
Another big benefit is that the NCR protects you from being blacklisted. This will immensely benefit you, since blacklisting is another issue that you do not have to deal with.