In 2007, South Africa realised that the people needed a financial solution to assist them in paying off their debt. The government intervened and The National Credit Act (NCA) was put in place to protect consumers from becoming blacklisted.
It’s the first quarter of 2022 and we are heading face first into the probability of an extreme rise to the cost of living. More than half of South Africa is screaming out across social media platforms, protesting against what we have been warned about. People are afraid and begging for financial relief beyond the pandemic. Calling for the government to put measures in place to assist the people.
It is unfortunately a hard pill to swallow that many South Africans will be maxing out credit cards, taking on personal loans and making debt to pay debt, just to make ends meet. This is one of the biggest mistakes that you can make. Debt can drown you if you are not careful.
This is why Debt Rescue was put into place, to prevent you from drowning. Let us see if you can make use of this safety net system.
Are You Struggling to Make Debt Repayments?
While you do not need to be over-indebted to apply for Debt Rescue, you do need to be unable to support yourself and your family because of the amount of debt that you have. This means that the debt repayments per month add up to more than the income that you are making. If this is the case, or if you are unsure, speak to our registered debt counsellors now to allow them to calculate if you are over-indebted and how they can help you restructure your repayments to an affordable amount.
You Cannot Keep Track of Your Debt and Need Help
If you have accounts all over the place, and cannot keep track of them, Debt Rescue may be the answer for you. Debt Rescue contacts each and every one of your creditors and negotiates on your behalf for a reduced monthly payment. When this is complete, you will be expected to pay one amount instead of many small and large amounts.
This ensures that you do not forget any creditor again. It also allows you to feel rest assured that the one payment is the only amount that you need to remember. With only one amount to pay, your debt will be streamlined, and you can concentrate on living life.
Debt Rescue requires that You have a Stable Monthly Income
To be able to utilise this safety net service, you need to have a stable monthly income from which your Debt Rescue will be paid. While the Debt Rescue service aims to assist all South Africans who require debt help, you must have money coming into the household every month. Without a stable income you cannot go into an agreement to pay off your debt through Debt Rescue. Your debt repayment amount is also calculated by understanding what your stable income is, and how much you need financially to survive the month comfortably.
If You are Eligible for Help with Your Debt, You Cannot make More Debt.
The Debt Rescue process is there to help you to pay what you can afford to your creditors, not to allow you to make more debt and get you further into financial trouble. Debt Rescue assists you to live life while being instantly relieved of the heavy burden of large amounts of debt.
Debt Rescue allows you to only pay what your pocket allows, and thereby cannot allow you to make more debt, until your current debt is repaid through reduced installments.
If you are over-indebted, or simply need debt help, contact our registered debt rescue counsellors now to see how they can help you. If you prefer, send us an email with your query instead.