Debt Restructuring in South Africa

Money may not make the world go round in a literal sense, but it certainly plays a big role in your day to day life. Without money, our basic needs won’t be met and life cannot be sustained. One way of acquiring money is through debt, and unfortunately, debt can quickly get out of hand when you are not careful. Debt Restructuring is possible through the process of Debt Review, and at Debtco Group, we can offer you a complete Debt Relief solution.

Debt Review is a process that lends itself to over-indebted consumers. After an affordability assessment that shows you have too much debt to reasonably afford, our team of Debt Counsellors get to work with a Debt Restructuring plan that works for you. We will approach your creditors to negotiate lower instalments and interest rates on your behalf, which then allows us to present you with a new debt repayment plan. This new monthly payment is much easier for you to manage, based on what you earn and how much you owe, as well as what your living costs are.

There are numerous benefits to Debt Review, one of which is the relief you experience through Debt Restructuring. Debt Review is a great way to clear your existing debt and get a better handle on your current finances. By restructuring your payments to suit your budget, your debt can seem a lot less daunting and it actually becomes possible to honour your new financial commitment and repay what you owe. Most individuals who don’t repay their debts according to the original agreement can’t actually afford the payment, which may be due to recent changes in circumstances, or an over-accumulation of debt.

At Debtco Group, all our Debt Counsellors are registered with the National Credit Regulator (NCR) of South Africa. Through Debt Restructuring and the Debt Review process, we can help you to overcome your debts properly, and we give you the guidance to start over on a clean slate. Debt Counselling Advantages also include protection from having your valuable assets repossessed – in fact, no debt collectors or creditors may contact you while you’re undergoing Debt Review. We even check your creditors to make sure they did not practice Reckless Lending.

If you are not sure that you qualify for Debt Review, get in touch with us. We will assess your financial situation and give you the direction you need. Our Debt Review service is comprehensive, customized and completely transparent, while our Debt Restructuring efforts are aimed at simplifying your life and finances as much as possible.