15 May Will my repayments go up if interest goes up while under Debt Review?
Life is becoming more and more expensive, and it is important that you have access to money after repaying what you owe towards debt each month. If you are wondering “Will my repayments go up if interest goes up while under Debt Review?” the answer is NO. Debt Review works for you and not against you, so you can benefit from a simple financial solution to your money problems.
Your repayments under the Debt Review program will not be impacted when interest rates go up, although your debt repayments ordinarily would. The reason for this is that your repayment is a court order, and the same rules do not apply. At Debtco Group, we work to find a solution to your debt and offer you the chance to enjoy your life again while paying off what you owe. A qualified Debt Counsellor will work with you to restructure your debt payments so that they fit into your budget. There is no room for uncertainty, so you can rest assured that your payment won’t be going up once you enter Debt Review.
One of the major benefits of Debt Review is the stability that it brings to your finances. When dealing with debt that controls where most of your money goes, it is not conducive to living comfortably. The interest rates that are a part of your debt agreements with creditors are a big downfall to debt and will be affected if the interest rate goes up. This means that you will be facing higher monthly repayments every time there is an increase, whether you can afford them or not. Debt Review lets you repay your debts to a Payment Distribution Agency in one reduced monthly payment, which cannot be affected by interest rate fluctuations.
Our Debt Review service is available to over-indebted South Africans who are ready to get their finances in order. There are many advantages because Debt Review stops you from becoming blacklisted or having your assets repossessed. Other benefits include freeing up money that makes your lifestyle more comfortable so that you can afford living expenses while also paying your debt off. Our committed team of Debt Counsellors are all registered with the National Credit Regulator (NCR).
Check-in with us to find out if Debt Review is the right course of action for you. It is easy to get started with Debt Review, you can start your journey to becoming debt free with us when you are ready. Don’t let debt keep you down and stop you from making the best of your life!