Debt Review vs Debt Restructuring – How Are They Different?
Debt review and debt restructuring are often used interchangeably, but they refer to two different debt management processes. A consumer is over-indebted when they cannot repay their debts in time. If their total debt is more than their net income after paying for living expenses, they are also over-debted. Unfortunately, many people don’t know the […]
How Debt Counsellors Offer Relief from Over-indebtedness
As trained professionals, debt counsellors specialise in assisting individuals struggling with over-indebtedness. Debt counselling is a form of debt relief available in South Africa. It is provided for in the National Credit Act 34 of 2005. Debt counselling is an official legal procedure. It recognises over-indebted consumers. Through this procedure, debt counsellors can arrange a […]