TAKING THE FIRST STEP
In Today’s Blog the discussion will help you to make a decision taking back control and putting your life back on track.
SOUTH AFRICA’S LAW MAKES IT POSSIBLE FOR ALL CONSUMERS WHO CANNOT PAY THEIR DEBT EVERY MONTH, TO MAKE AN APPLICATION TO A REGISTERED DEBT COUNSELOR, WHO WILL MAKE AN AFFORDABLE PAYMENT ARRANGEMENT, REFER THE AGREEMENT WHERE THE COURT WILL VERIFY WHAT THE CONSUMER CAN ACTUALLY AFFORD EACH MONTH. THIS LAW HAS BEEN AROUND SINCE 2007 AND IS CALLED THE NATIONAL CREDIT ACT.
Most creditors want some assurance they will get paid every month, over a specific period of term that is in as per the contractual agreement and agreed to when the loan was granted. That is why they put so much pressure on consumers to pay bigger payments and not taking into account the personal situation of the consumer’s other commitments when running into financial trouble and accumulating arrears those accounts. The creditor will enforce their rights to ensure the debt is collected in full.
The danger is that debt can have a bad and outcome on you when you allow it to get out of control. It is so easy to get credit and to go into debt, but also so difficult to get out of debt effecting your credit score rating. When you ignore the situation you can find yourself with a summons served when you at work or the Sheriff of the court visiting you with a Right of Execution to list all your assets on your property to report back to your creditors which can be very very stressful and cause sleepless nights, panic and trigger anxiety.
That is why it is better to get help as quick as possible, and not get deeper into the debt trap by taking out another loan you know you won’t be able to afford. If I may say without offending you, YOU ACTUALLY ARE IN A DEEP DEBT HOLE! Finding you can’t get out of the situation sinking in deeper and deeper IN THE hole getting bigger and threatening your lively hood that leads to more stress. THEREFORE YOU HAVE TO GET RID OF THE DEBT.
You do have an alternative of a legal program called Debt Review that has been around for a long time and can help you get your life back on track. Debt Review is a great tool available to you to deal with your day to day expenses and pay your debt every month, in a more manageable and affordable payment. This way you can put an end to your sleepless nights and reduce stress levels that effects other areas of your life negatively.
WHEN IS IT TIME TO GET HELP?
There is no doubt that when you have some debt it is causing a lot of stress for you and your family. How does one know that you’re heading for trouble and should look into taking the FIRST step. Getting advice and getting a debt quote on a lower debt repayment plan that uniquely suit and financially fit your situation, is good sound place to start. Here below I’ve will deal with some of the areas you could most likely relate to.
- You using your credit card to pay other debts to creditors.
- You are living in your overdraft, and most likely almost maxed your limit.
- You making a pay day lone to microlenders just to buy food or pay your rent this month.
- You had to beg for loans with family members or your boss just so you can pay your debt for the month.
- You can’t pay all your creditors each month, you are already in the habit of skipping some and negotiating with yourself about which creditors must be paid the following month.
- You most recently took out a new small loan to pay the arrears on another loan account.
- You are getting a lot of SMS’es demanding payments not received by your creditors now exceeding two months in arrears.
- You become too scared to answer the phone. The operators won’t listen to your excuse and can be nasty with you.
- You applied for a new loan and was turned down due to your credit score which is too low.
- You received a SECTION 129 notice by registered mail from the Post Office, giving you notice to contact the bank or go to a debt counsellor to make arrangements about your arrears.
- You applied for a new loan and was turned down for the reasons that you can’t afford the monthly repayment over and above the already debt repayments.
- Your received a post card in your post box at home to contact the Sheriff which is a very scary place to find yourself in.
- You Receiving a call from example Wesbank, they said to you they will be sending their collection agent to collect your car which is already two months in arrears.
- The bank refuse to negotiate with you on the account that is now with legal who will be proceeding with legal action against you as the account is now more than 3 months in arrears.
THE TIME IS NOW!
If any of the above sound familiar to you, then it is TIME for you to GET HELP.
When you have a problem with your roof, you will call the Roof Expert.
When you have a problem with a stray dog, you call the SPCA.
When you need help with your debt, just click on the CONTACT US link, complete your information, hit the submit button and one of our friendly assessment consultants will make contact with you.
SO THE CRUX OF THE MATTER IS THAT CONSUMERS MUST ADMIT TO THEMSELVES THAT THEY HAVE A FINANCIAL CRISES AND NEED HELP NOW. DON’T WAIT UNTIL THE SUMMONS IS SERVED THEN IT IS TO LATE TO INCLUDE THE ACCOUNT INTO DEBT REVIEW. IT IS A BIG MISTAKE. DON’T FOOL YOURSELF TO POSTPONE THE PROBLEM THE PROBLEM ONLY GETS BIGGER AND BIGGER.