When problems come up during debt review, it’s important to take action.
You may need to make some big changes to keep things on track and you need to be willing to try meet the credit providers’ half-way, if possible.
First, talk to your Debt Counsellor as soon as you notice a problem. They have the know-how and resources to help you through tough times to keep your plan on track. They may have great budgeting suggestions to help cut costs temporarily.
They can also send a special form (called a Form 17.3) with information about your situation to all your creditors. You may need to give them copies of invoices or quotes for repairs or ‘whatever’ to add to the form so they understand clearly. Once that is sent, then hopefully a temporary plan can be made.
Next, consider ways to adjust your current situation (even if just for a short while) to try keep your debt repayment plan in place.
Don’t panic and make bad decisions, get advice.
E.G. If your car breaks down, don’t just stop your debt review payments to get the car fixed immediately. You may need transport, but remember you can use public transport, lift clubs, Uber or catch a ride with family temporarily. Talk to your Debt Counsellor to get a plan in place with your credit providers, before you just slash your debt review payments.