db Debt Counsellors is a boutique Debt Counselling company, situated in East London. Our two fully qualified and extensively trained and experienced debt counsellors offer personal and tailor made services according to your need.
If you find that your income is not enough for you to pay your debts and support your family, maybe its time to stop living on credit and rather look for the solution that works.
What is Debt Counselling?
Debt Counselling is a formal, legal process that was introduced by the National Credit Act in 2007. Using this process, our Debt Counsellors are able to assist you by negotiating with your credit providers for reduced installments, increased terms and even reductions in interest rates and charges in certain circumstances.
By restructuring your credit agreements to terms that you can afford, you are able to get back on track with the repayment of your debt. This includes all types of credit in terms of the National Credit Act. Any arrears that you might have on your accounts is also re-calculated back into the repayment plan.
Benefits of debt counselling:
- Debt counsellors will formally review the clients finances, develop a suitable monthly budget and negotiate with credit providers on their behalf
- Enables clients to make monthly debt repayments
- Relieves clients from creditors hassling for money
- Maps out the path for reducing bad debt and becoming debt free
- Decreases summonses and judgements against clients
Who qualifies for Debt Counselling
- Any person who is employed and earning a regular income is entitled to go under Debt Counselling
- Only a person who is over-indebted can go under Debt Counselling (we check this for you)
Debt Counselling is a rehabilitation process that aims to assist you get your debt settled and to get you back into the credit market again. Once you have completed the debt review process, you are issued with a Clearance Certificate by us (we also send it through to the credit bureaus). This certificate clears your credit record and allows you to take on affordable credit, in a responsible manner.