10 Jun A Legal Way to Reduce Your Debt Payments

There are few things as suffocating to your financial freedom as debt. This is especially true for over-indebted individuals who struggle to afford their debts and manage their budgets each month. Does this resonate with you? At True North Debt, we’ve helped many clients successfully overcome their debt problems within their means. Debt review is a legal way to reduce your debt payments while still paying back everything you owe. We can do the same for you.

With various types of debt help systems available to South Africans, how do you know which is right for you? This debt relief programme is ideal for over-indebted consumers, where we determine that your income cannot support your living expenses and monthly creditor instalments. If you’re ready to make your money work for you and improve your financial situation, get started now.

Legally Protected from Creditors

One of main advantages of debt review is how the National Credit Act protects you. As a South African consumer, the credit agreements you enter into are your responsibility. When you start missing payments and avoiding your creditors, you risk legal action, asset repossession, and a tainted credit score. As a legal way to reduce your debt repayments, debt review shields you from any actions your creditors might take against you.

The formal process of debt review was created and is governed by the National Credit Act (NCA). This ensures that if you are a struggling credit-active consumer, you can afford your debts through more reasonable monthly payments, restructured to suit your affordability. At True North Debt, all our debt counsellors are registered with the National Credit Regulator (NCR). We provide a legal way to reduce your debt repayments, balancing your rights with those of your creditors for solutions that work.

Choosing your Debt Counsellor

Debt review is provided for in the NCA No. 34 of 2005 – a national legislation and statutory remedy. Now that you have this reassurance, the next important consideration is the debt counsellor you choose to work with. True North Debt has an excellent success rate, and we work with individuals across South Africa to overcome debt through debt review. Our team are transparent and upfront with you from the get-go.

Make use of our Debt Review Calculator to work out your current affordability and see how Debt Review works for you. If you cannot keep up with your debt obligations and the financial pressure is too much, there is another way. Contact us to find out how you can become debt-free!