When to apply for Debt Review
If you are no longer able to pay all of your monthly instalments AND service your necessary household expenses, a free consultation with a registered Debt Counsellor can certainly put things in perspective.
Some of the more common signs of over-indebtedness, are as follows:
- Servicing credit agreements with more credit
- Paying less than your monthly instalment on your account/s
- Missing one or more instalments on your account/s
- Receiving threatening letters / e-mails / sms's / phone calls regarding your debt (usually due to the above)
- Looming Legal Action due to missed / short payments
- Borrowing money from family and friends to buy your necessary household items
- Using credit to service basic living expenses
Utilising the Debt Review process at the right time and under the right circumstances will enable you to make educated decisions about your financial position at any point in time.