Debt Review
is a process in terms of the National Credit Act for over indebted consumers.
The purpose of the act is to protect the over indebted consumer against credit
providers. It is the most suitable way to taken against you. The aim of debts
evaluation is to have your financial obligations the month and ending up with
nothing on your bank account then debt review is for you.
How does
Debt Review works?
The First
step in the process is to get the help from a debt counselor and we do
recommend that you do work with a company that has a NCR number and thus is
registered with the NCR. If you apply for debt review then a direct money debt
counsellor will assesses your outstanding debt and then consult with credit
provider on your behalf and assist you to establish an affordable monthly
payment plan that incorporates both your earnings and living expenses. The debt
counselor will then draw up and income and expenses document to determine truly
if you are able to repay your debts and give the final number to you. It is
very important to provide the documentation and information requested so that
your debt counselor can provide you with the best possible services. If you are
not able to pay back your financial obligations, the formal process of applying
for debt counseling will start. It is truly your last chance to save yourself
from getting legal action taken against you. The aim of debts evaluation is to
have your financial obligations restricted to one affordable monthly premium.
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