Debt counselling was introduced in 2007, with the National Credit Act 34 of 2005 and although many are intimidated by the term “debt counselling” or “debt counsellor”, here are 7 benefits of debt counselling.

7 Benefits of Debt Counselling

1. All of your debt repayments will be reduced and in many cases, the interest rates and service fees will be reduced for the entire repayment period
2. You make one monthly payment for ALL of your debt
3. Your home, car and any other assets will be legally protected from repossession
4. You will not receive any more threatening phone calls and legal letters once you have started the debt counselling process
5. You can’t get any new credit while you are under debt review and this prevents you from getting into any further financial difficulties
6. There is no permanent record that you have ever been under debt review at the credit bureaus after you have repaid your debt
7. You take control of your finances once more, you know exactly how much you need to pay every month and there is no need for any new loans or arrangements with creditors

Need to talk to a debt counsellor? Contact RD Debt Counselling for a FREE debt review today.