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Dealing with debt can be very stressful and overwhelming. Unfortunately, many people in South Africa find themselves drowning in these financial burdens because of reasons like overspending and expensive emergencies. Sometimes, the cause of the problem is something as simple as failing to properly keep track of expenses.
Are you in this situation and want to pull yourself out of it? Debt counselling in South Africa can help you achieve financial stability and peace of mind by setting you on a strategic and doable plan to clear your loans.
What is debt counselling?
Debt counselling is a service established under the National Credit Act aimed at helping individuals struggling with financial challenges. In simple terms, it involves getting help from a trained debt counsellor who will assess your finances and guide you in creating a manageable repayment plan, which can lessen the burden of debt and lead to a more stable financial future.
How does debt counselling in South Africa help?
Debt restructuring in South Africa can help individuals in several ways.
Assessment
One of the reasons why people go into debt is because they are not fully aware of their financial situation. A debt counsellor will assess your income, expenses, and debts to help you understand your financial standing better so you can see where you are from a practical and realistic standpoint.
Negotiation with creditors
Debt counselling involves negotiating with creditors on behalf of the client. The goal is to come up with a repayment plan that is affordable and acceptable to both parties. This can help you avoid legal action and potential blacklisting.
Reorganisation of debt
A debt counsellor can also assist in debt reorganisation, which involves combining all your debts into one manageable monthly payment that makes it easier to manage both financially and mentally. This can also potentially lower your interest rates and fees, making it easier to pay off debt over time.
How Super Compare can assist you
Super Compare is a helpful tool that simplifies the process of finding the right loan providers in South Africa. With Super Compare, you can easily look at different options, including interest rates, fees, and what services each agency offers. They also provide legal assistance, making it even easier for you to navigate your debt situation.
Visit their website at www.supercompare.co.za for more information, and fill out their online form to get in touch with one of their representatives today.
About the Company:
Super Compare is a comprehensive aggregator specialising in loans, phones, and insurance. Our mission is to provide the best and most affordable deals currently available. We simplify your decision-making process by offering a variety of options to fit your needs and budget.
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