
13 Apr Benefits Of Debt Review
As a consumer who is undergoing the Debt Review process and seeking relief from being over-indebted, there are numerous benefits to Debt Review that make your life easier. Debt causes stress that negatively impacts your work life and personal life, and takes a toll on your financial independence. At True North Debt, we offer a dedicated Debt Review service that helps you land back on your feet. Here are some benefits of Debt Review:
Immediate Relief:
Instead of trying to manage multiple debts that are out of your financial capability, Debt Review allows you to pay back only what you can afford, through one consolidated monthly payment. You can enjoy immediate relief from the pressure of being over-indebted, knowing that you are well on your way to repaying your debts for good. You also have the immediate relief of protection by the National Credit Act, and so your creditors may not reach out to you demanding payment, and you cannot be blacklisted.
Protection against Legal Action:
A big fear facing over-indebted consumers is the potential legal action that creditors may take against them. When you fall behind on your debt repayments, you risk asset repossession and could lose your most valuable possessions, which include your car or home – this is one of the biggest stress factors of being over-indebted. While you are under the Debt Review process, you are protected from any legal implications associated with your debt. This gives you the focus you need to get your finances in order and come out of Debt Review successfully.
One Reduced Monthly Debt Repayment:
It is difficult to get a handle on managing many debt repayments, especially with an already tight budget. It becomes easy to forget certain payments altogether and make late payments when you are overwhelmed by debt. During Debt Review, our True North Debt team willrearrange your debts by negotiating lower monthly instalments and interest rates with your credit providers. We will consolidate everything you owe into one reduced monthly payment that works for you, and is managed by a professional Payment Distribution Agency (PDA).
Your Living Expenses are covered:
After we assess your finances and before we renegotiate payment terms with your creditors, we consider your living expenses to make sure that you can still afford them while you repay your debt under Debt Review. While before, you would have to choose where to spend your money in order to keep up with your expenses, Debt Review allows you to repay your numerous debt obligations, while still being able to cover your living expenses.
These are all benefits that can help you to repay your debt and live more comfortably while under Debt Review. Find out how True North Debt can help you to get out of debt for good, and enjoy the numerous Debt Review benefits that are a part of the process.