23 May Top 10 FAQs in Debt Counselling

Debt Counselling is a legal process that has helped many South Africans regain control of their finances. It is a process designed to help over-indebted people manage their debts in a way that is beneficial to both them and their creditors. However, many people have questions about what debt counselling entails and how it can help them. In this blog post, we will be addressing the top 10 FAQs in debt counselling and how True North Debt addresses each of these questions.

10 Most Popular FAQs in Debt Counselling

1. What is Debt Counselling?

Debt counselling is a legal process regulated by South Africa’s National Credit Act. The objective is to help over-indebted consumers manage their debts in a way that benefits both them and their creditors. At True North Debt, we understand that every individual’s financial situation is different. That is why we offer a personalised approach to our debt counselling services.

2. Who Can Apply for Debt Counselling?

As long as you have a fixed monthly income and qualify for debt review, this debt relief process will give you the opportunity to regain financial stability. At True North Debt, we believe that everyone deserves a second chance. That is why we offer debt counselling services to anyone who meets the necessary requirements.

3. What Type of Debt Does Debt Counselling Include?

All types of personal debt can be included in the debt counselling process. This includes credit card debt, personal loans, store cards, and more. At True North Debt, we understand that debt can be overwhelming. That is why we ensure that all of our clients’ debts are included in the debt counselling process.

4. Can I Include My Municipal Debt?

Yes, municipal debt can be included in the debt counselling process. We ensure that all of our clients’ debts, including municipal debt, are included in the process.

5. What About School Debt?

School debt can also be included in the debt counselling process. At True North Debt, we understand that school fees can be a significant financial burden for many families. That is why we ensure that all of our clients’ debts, including school debt, are included in the debt counselling process.

6. What About My Company’s Debt?

Company debt cannot be included in the debt counselling process. The process is designed for personal debt. At True North Debt, we specialise in debt counselling for individuals.

7. What Happens to My Bond if I apply for Debt Counselling?

Your bond can be included in the Debt Counselling process. This means that your bond repayments can be restructured to be more affordable. At True North Debt, we understand that your home is your most significant asset. That is why we ensure that your bond repayments are included in the debt counselling process.

8. What About My Car?

Your car finance can also be included in the debt counselling process. This means that your car repayments can be restructured to be more affordable. At True North Debt, we understand that your car is essential for everyday life. That is why we ensure that your car repayments are included in the debt counselling process.

9. How Long Does the Debt Counselling Process Take?

It normally takes between 3 – 5 years to successfully complete debt review, after which you are granted a debt clearance certificate. At True North Debt, we understand that every individual’s financial situation is unique. That is why we design a personalised debt counselling plan that is tailored to your specific needs.

10. What are the Benefits of Debt Counselling?

The major benefits of debt counselling include regaining control of your finances, protection from harassment by creditors, and ultimately achieving financial freedom. At True North Debt, we believe that everyone deserves to be debt-free. That is why we offer debt counselling services that are designed to help you achieve financial freedom.

Become Debt-Free with True North

At True North Debt, we are committed to helping our clients become debt-free. That’s why we are one of the best debt counsellors in South Africa. Our team of experienced professionals is dedicated to providing you with the support and guidance you need to achieve financial freedom.

If you’re struggling with debt, don’t hesitate to contact us today. Our personalised debt counselling services are designed to help you regain control of your finances and achieve your financial goals. Remember, the journey to financial freedom starts with a single step. Let us help you take that step today.