Will I be blacklisted when entering Debt Review?

Consumers with too much debt are constantly challenged to make payments to their creditors on time, while also doing their best to provide for their families. Debt relief is provided through the National Credit Act accredited Debt Review process, which is specifically aligned to the needs of over-indebted consumers who want to remedy their financial problems and start enjoying the life that awaits them after debt.

At Debtco Group, we offer a reputable service to clients who are ready to turn their lives around and get rid of debt. If you’re wondering if you will be blacklisted when entering Debt Review, the answer is NO. During the process, your credit report will reflect that you’re undergoing Debt Review, and you will not be able to pursue credit or loan options. This is only temporary – once you’ve settled your debt, the Debt Review flag is removed from your name. As long as you’re honouring your debt responsibilities, you are actually safe from becoming blacklisted, and also cannot be the victim of asset repossession or the harassment of your creditors.

So, how exactly does Debt Review help you? A qualified Debt Counsellor from our team negotiates with your current creditors to get your monthly repayments lowered. Afterwards, all your reduced debt repayments are consolidated into one monthly amount, which is manageable according to your affordability by a trusted Payment Distribution Agency. This allows you to stay on track with repaying your debts and saves you from defaulting on payments and risking your financial reputation and credit report. Our services are all done professionally and discreetly, according to the National Credit Regulator (NCR).

Although the Debt Review process has been available to aid consumers since 2005, many people still have questions in order to prepare themselves for what to expect. We’re here to help and attend to your concerns, and will always give you fair and honest feedback. When it comes to Debt Review, we make sure clients can afford the new and reduced repayment they’re responsible for each month because there are consequences to skipping a payment. Our team of Debt Counsellors rely on you to honour your Debt Review financial commitment, and cannot protect you if you don’t.

When you skip a payment, your Debt Review agreement is compromised and creditors may choose to initiate legal proceedings – unfortunately, our hands are tied in these cases. If you’re struggling to manage Debt Review payments, we encourage you to talk to your Debt Counsellor directly before you skip a payment and need to face the difficulties that follow.

For a tailored solution to your debt problems, contact Debtco Group today.