Debtfree Issue September 2022 DebtBusters Special Edition
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Have they thoroughly assessed your financial situation<br />
before suggesting a repayment plan?<br />
Be wary of anyone who suggests an outcome or repayment<br />
plan to encourage you to sign up for debt counselling before<br />
they’ve done a full assessment. Even a basic assessment<br />
should include information such as your marital status,<br />
income, debt obligations and living expenses.<br />
Good debt counsellors will do a thorough financial<br />
assessment, looking at all aspects of your finances and ability<br />
to repay back your debt. This is rare in the South African<br />
financial services industry.<br />
Based on the assessment they can then recommend a<br />
repayment plan that is best suited for you.<br />
South Africa has an effective debt counselling system. Evidence of<br />
this is the increasing number of consumers who are completing the<br />
process. By following these few simple guidelines, consumers who<br />
need help with their debt can find a reliable and supportive partner<br />
who will go the distance with them.
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