1. When deducting living expenses from your net wage, ending up with less money left over than installments on your total debt – you may apply for debt counseling

2. Essential living expenses embody lease or housing, school fees, service providers, utilities, food, transport (petrol or commuting)

3. You need to have an earnings, either be an worker or self employed

4. You will need to have cash left over after paying your essential expenses, earlier than debt payments each months

5. The biggest mistake is to don’thing! Do not wait for a rise in wage, go gambling or to win the lottery. Do not avoid your debt and creditors and hope they will just disappear. Don’t ignore any calls or letters from your credit providers; otherwise they are legally entitled to take authorized motion in opposition to you.

6. Take action the second you see that your current revenue does not meet all your monthly expenses. Don’t wait until you receive a court summons.

7. Your automobile and house can’t be repossessed after making use of for debt counseling and as quickly as your creditors have been informed that you’re under debt review.

8. Repossession can’t be stopped after you might have acquired a court summons from your creditor, even in the event you start to apply for debt review after receiving it.

9. You cannot apply for further credit while under debt review. You additionally cannot make any purchases with your store and credit cards.

10. About 17.53 million South Africans are credit active, utilising 61 million credit accounts, averaging 3.5 accounts per credit active consumer. Having 2 credit cards to your name will place you under sufficient financial strain to turn into over-indebted.

Are you unable to keep up with your debt? Is your credit providers hassling you? Afraid you would possibly lose everything? Get assist from a debt counsellor to consolidate all of your outstanding debt.

Should you have almost any inquiries relating to exactly where and also how to utilize debt counselling pretoria, you’ll be able to email us with our web page.