How can I settle my debt without resorting to Debt Review?
Over indebted consumers really have a number of options when it comes to settling their debts being:
- Borrowing against a asset such as a house, pension for example
- Applying to increase their existing bond amount or borrowing against the equity of your home which will enable them to pay off the debt at lower monthly interest rates.
- Improving one’s personal financial position such that they are able to pay off their debt quicker.
- Securing a debt consolidation loan. This is option is open to consumers able to prove that they are comfortably able to afford to pay off the new debt consolidation loan which are invariably at higher interest rates than other loans.
Failing that consumers really only have the option of keeping up with their repayments, defaulting on their financial commitments or applying for debt review.
Debt-911 recommends that over indebted consumers seriously consider entering the debt counselling process as this has been proven to dramatically reduce one’s debt burden and places the consumer firmly on the path to debt freedom.
Debt counselling restructures one’s debt and is strictly regulated by the National Credit Regulator (NCR). Consumers typically exit the debt review process after 36 months and in some cases credit card debt and unsecured debt interest rates can be reduced to zero depending on the circumstances.
It is important to understand though that the Debt review / debt counselling option is only open to consumers who can be proved to be over-indebted.
If You Are In Financial Trouble, Contact Debt-911 Now To Discuss Your Debt Counselling Options
If you are concerned that you may be unable to meet your monthly debt obligations, don’t wait until it is too late. Simply call us on the number alongside, SMS Help to 40935 or complete and submit the form alongside and a highly trained, registered Debt-911 counsellor will contact you to discuss your personal financial situation and give you a free consultation.