Debt Free on a Budget: Is it Possible?

Managing a tight budget is already a challenge, but when combined with debt, it can make your monthly finances feel even more overwhelming. You can overcome debt problems through Debt Review by carefully budgeting and planning. Let us look at becoming debt free on a budget: Is it possible, and how can you get started?

Of South Africa’s 23 million credit-active consumers, it is estimated that about 40% are over-indebted. Some of this debt is incurred through reckless lending, at the fault of deceitful lenders. In other cases, households are falling behind on debt repayments due to overspending, inflation, and difficulty maintaining a reliable monthly income. The availability of a solid debt relief option is an important lifeline to many struggling consumers. At Debtco Group, we’re here to make you’re life easier, by easing the burden of debt.

Become Debt Free and Improve your Budget

One of the many advantages of Debt Review is that your debt repayments are customised to your budget. Instead of managing numerous monthly payments to different creditors, our team assesses your affordability for reduced instalment amounts. Once we have negotiated with your creditors, Debtco Group will provide you with a revised Debt Repayment Plan. All payments will then be handled on your behalf through a registered Payment Distribution Agency (PDA).

Enjoy becoming debt free on a budget: Is it possible? Yes, it is possible and will also improve your finances going forward. With us, the Debt Review process is a transparent one. When we start, your Debt Counsellor will assess your loan agreements, identifying or ruling out possible reckless lending. During the process, you are protected from legal action regarding your debts. Additionally, lenders may no longer contact you about the outstanding amounts owed.

Look forward to an improved budget that makes room for the life you envision for you and your loved ones. Being in debt often causes families to put their lives on hold, but there is an end in sight, even if you are on a tight budget. Utilise our online Debt Saving Calculator to break down your earnings, expenses, and debts. This quick assessment also shows how much you can potentially stand to save if you undergo Debt Review.

The Key to Financial Freedom

Wondering how you can become debt free on a budget: Is it possible? Work with our professional team of Debt Counsellors and you can overcome debt and experience debt relief. The Debtco Group team has featured in many client success stories, and we can do the same for you! As National Credit Regulator (NCR) registered professionals, let us guide you through Debt Review and help you become debt-free! Contact us to get started.