Debt Review Process How it Works

 

When you require financial aid you will find that you are faced with a variety of options. Understanding these options will go a long way to assisting you in making your decision. The debt review process is probably the least understood. Debt review was introduced in 2007 along with the National Credit Act (NCA). It was introduced in order assist those who find that they are no longer able to afford their monthly expenses and debits.

The debt review process is only available to persons who are over indebted and permanently employed.  The first step is to evaluate you financial status and situation. This is done by carrying out a credit report. This will help to ascertain what is needed to be done to ensure that your good credit rating is returned and that your credit history remains good.

Debt review ensures that legal action cannot be taken against you while you are receiving debt counselling and working towards paying off your debts.

Debtcor has a hands-on approach to debt review and debt counselling. They like to get involved with their clients and ensure that everything possible is done to assist them regaining control of their financial situation. They will go out of their way to make sure that your debt problems can be solved and that you don’t suffer the stress of being handed over or black listed.

A dedicated debt counsellor will assist you with negotiating better repayment rates with each of your creditors. They will also assist you with making a bad credit loan any consolidating your debt into one affordable expense account.

If you are interested in finding out more about the debt review process and how it can help you, take the time to contact Debtcor to discuss your viable options. This professional and friendly team will ensure that you are provided with all the information necessary in order to make an educated decision.

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