Are you employed? Committed to paying your creditors back on a monthly basis? Prepared to help yourself get out of debt? Willing to make the necessary cuts? And ready to accommodate a new lifestyle?
You are the right person for debt review, if your answer to all of the above is a resounding YES.
Moreover, you need to understand that being placed under debt review does not mean your debt suddenly disappears but rather that it is restructured to enable you to, over a number of years, become completely debt-free.
A more than worthwhile goal, when considering the emotional, physical, personal, social and financial hell that living in a state of over-indebtedness afflicts upon one.
That is why we have compiled a list of flashing red warning signs that mean you should immediately and urgently see a debt counsellor about going under debt review.
You DESPERATELY NEED to go under debt review if:
- The total amount you earn monthly doesn’t cover your debt or living expenses
- You’ve tried decreasing your living expenses, but still can’t cover your debts or even basic living expenses so you cannot afford to reduce them any further
- You don’t have emergency savings for unforeseen financial problems like a medical emergency, legal fees, inflation, retrenchment, redundancy, down-sizing, divorce etc.
- You use credit cards and over drafts to pay off your existing debts
- You’ve obtained additional loans to service your existing debts
- You use credit cards and overdrafts for your monthly living expenses
- You skip monthly instalments, make partial instalments or cannot make full installments
- Creditors are calling you incessantly demanding payments or threatening to take legal action against you
Like all good things in life, going under debt review will require your patience, devotion and full attention, but it will certainly change your life drastically for the better.