Debt Management
Find Your Debt Solution Today
It takes a lot of discipline to make your money go the extra mile these days, yet many South Africans find themselves falling into debt. While some debts can be managed through thorough budget planning, it’s still likely for some of them to fall through the cracks.
If left unaddressed, an over-indebted individual can wind up facing legal action by their creditors, the repossession of their assets, and a permanent mark on their credit record. The latter is especially serious, since your credit score determines what kind of interest rate is attached to your next credit application – if you can apply for new credit at all!
Thankfully, with Supercompare, you have access to specialists, who can help you consolidate and repay your debts before any irreparable damage can be done.
Benefits of Debt Consolidation
- Potentially pay a lower interest rate
- Pay off multiple debts faster
- Reduce your monthly repayments
- Save your credit score
- Get greater control over your finances
Debt Consolidation
The number one way you can fall behind on repaying your debts is by losing track of all the outstanding accounts in your name. Even a small amount can grow into a large sum thanks to the often exorbitant interest rates set by those creditors. The best solution is to pay these off as soon as possible, but that just isn’t feasible – after all, there’s a reason you had to take out that credit in the first place.
However, you can bring your finances out of the red with a surprising solution: a consolidation loan. It may seem contradictory to take out a loan to pay off all other loans, but this is an uncomplicated and sometimes more affordable way to settle with your creditors. It can also simplify your monthly budget, since you don’t have to juggle multiple debt obligations – you make only one monthly repayment to a single creditor.
Benefits Of Debt Counselling
- Your creditors can’t take any action against you, while you’re undergoing the debt counselling process
- The restructured payment programme negotiated by your counsellor should be easier to fit into your monthly budget
- You can have peace of mind, knowing your assets are protected from repossession
- You no longer have to fear calls from your creditors demanding payment
- There is no permanent record of having undergone debt counselling
- Your debt counsellor can teach you how to better manage your money
Debt Counselling
We all need a little help sometimes – and never more so than when creditors are knocking on the door. With the help of a debt management specialist, you have someone in your corner to talk down those creditors and negotiate a restructured repayment plan with lower interest rates.
Apart from saving you from bankruptcy and bringing your credit score back from the brink, officially declaring your commitment to debt counselling can protect your assets from repossession and keep your creditors from pursuing legal action against you.
A qualified debt counsellor is the friend you need, when your debts exceed what you can repay.