Debtfree Issue 202402 - DB
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WILL DEBT REVIEW WORK FOR YOU?<br />
THE COSTS ARE<br />
MINIMAL<br />
Some people worry about the cost of debt review. Since<br />
it is a professional service that has the potential to turn<br />
your financial future around it makes sense there will be<br />
some costs but they remarkably are really not high.<br />
1. The Monthly Account Fees<br />
These fees can be between R60 – R69<br />
For simplicity let’s use R60.<br />
Most people who enter debt review have on average 7 accounts.<br />
That means you are probably paying around R60 x 7 = R420 a<br />
month in account fees. These could disappear under debt review.<br />
2. Annual Fees<br />
Some credit providers charge you hundreds of rands in annual<br />
fees to have a card or an extra card for family members. These<br />
they often cut out all together when you enter debt review.<br />
3. Interest<br />
We all know that when we take out credit, we will pay interest.<br />
These fees can be high. Very high. They can eat up much of the<br />
debt repayments we make each month. They cost us thousands<br />
or even hundreds of thousands of rand over time.
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