Many South Africans fail to manage their debts owing to ignorance regarding how one should avoid getting themselves into debts which they can’t manage. As such, the South African government introduced an act of law whose objective is to assist people with information on how they should review their debts.
Debt Review is a solution provided by the National Credit Act to support & protect over-indebted consumers. The process takes into perspective all of the consumer’s accounts and inaugurates a universal strategy to get the consumer out of debt.
The process of debt review offers security to the consumer from credit providers who pester them or threaten to reposes their assets. It is in line with this background that Section 86 of the national credit act 34 of 2005 regulates the debt counselling industry thus the rights of a consumer are specifically protected by the act and entitles the consumer to a fair and reasonable debt re-arrangement plan.
This process enables consumers to get their monthly debt instalments reduced by up to 60% thus giving them the financial freedom they are entitled to. The process of debt review forbids creditors from taking legal action. This means that a consumer’s assets are protected by law – no more harassing phone calls.
With your own dedicated debt counsellor you’ll have 100% transparency and 24/7 access to every aspect of your debt review.
Those who are willing to get more information regarding this process should visit www.greenfern.co.za.