Debt review – also known as debt counselling – is a debt solution that helps consumers in Cape Town who are over indebted and struggling to manage their finances. Debt review in Cape Town was introduced by the National Credit Act (NCA) in order to prevent consumers from having to deal with the long term effects of debt.
The process was also implemented in order to make sure that debt counsellors follow strict and ethical guidelines when assisting clients with gaining their financial well-being. The process of debt review involves a debt counsellor who assesses your outstanding debt, and then determines the best debt repayment plan. This will be done through the renegotiating of interest rates with credit providers in order to reduce them, as well as by extending the debt repayment terms.
If you are struggling to meet your financial commitments, apply for debt review in Cape Town today.