Debt Care

Well managed debt is a key to almost any financial door.

Sadly, it can spin out of control all too easily. If you find yourself spending sleepless nights counting bills instead of sheep, it's time to turn to Debt Care. Debt counselling by Debt Care's experts has helped over 10,000 South Africans pay off their debt and establish healthy financial goals since 2008.

Here are a few ways you can take control of your debt:

• Have yourself declared insolvent
• Debt consolidation loans
• Debt counselling
• Create a budget and work with your creditors

The trouble with the first two options is that they both have serious side-effects that will haunt you for years to come. Not financial choices that should be made casually or without checking in with your financial advisor. Debt counselling, on the other hand, will not cost you everything you own or land you in deeper debt.

Cleaning up your finances 

In essence, debt counselling means you are committing the next five years of your life to clean up the mess your finances are in. In exchange, you're paired with a debt counsellor who'll rearrange your debt terms and payments, get creditors to leave you alone, and help you develop healthier financial habits.

At no time will you be expected to put up any kind of collateral. You'll walk away from debt counselling debt-free, with no court judgments against you, and a positive credit report to show for it.

Debt Care takes an individual approach to each case

Their view is that each case is as unique as its applicant. Each of their debt counsellors is an NCR accredited expert and will give you the support you need to get through the process. With Debt Care, you don't have to go through this alone.

Debt care moves fast and can offer you relief from staggering debts and angry creditors within five days.

Fill in the callback request form online, and a Debt Care counsellor will call you within hours to get the online application process started.

Your Debt Care counsellor will ask you to fill out an application form. Next, your financial situation will be reviewed. To be eligible for debt counselling your total debt needs to be over R 50,000, and you need to prove that you are over-indebted.

Are you over-indebted?

The term "over-indebted" boils down to the fact that your monthly expenses exceed your income by a wide enough margin that you can't afford to pay your bills within the terms of the agreements.

Debt Care has a legal partner who will take your case to a magistrates court. The resulting court order is what protects you from any further interference from your creditors. Your Debt Care counsellor can now get to work on reorganising your debt payments - everything from credit cards to short-term loans.

The National Credit Act gives your accredited debt counsellor the legal power to:

• Get the interest rates you're being charged lowered
• Get the length of your loan term extended to make your monthly payments more reasonable
• Work out an affordable payment plan for you

While Debt Care is working on the legal aspect of your case, they'll give you a temporary payment schedule. You'll make payments to the National Payment Distribution Association for the first 60 days.

By offering you this temporary solution, Debt Care can keep you safe while they apply for a court order and make final arrangements.

When everything is in place, Debt Care will present you with a strategic repayment plan. From this point on you'll pay a monthly instalment to Debt Care who will pay off your debts for you.