What is Debt Review and Counselling?
Debt counselling is a formal and closely managed debt solution, introduced by Consumer Credit Act of 2016. Debt counsellors guide clients with debt problems through debt review, enabling them to make monthly debt repayments and gain financial stability. Debt counselling process helps clients who are struggling to make debt payments, by entering them into a structured debt repayment plan with their credit providers, in order to ensure they take firm control of their financial situation and settle their short and long-term debt. According to section 68 of the national consumer act of 2016, section 86 - section 95 prescribe the full process of the full debt review process.
Benefits of Debt Review and Counselling
- Reduced debt installment.
Debt review and counselling combines all your debt repayments into one installment.
- No more juggling between payments.
You pay one affordable installment, less than what you would have paid with a normal consolidation loan.
- No fixed property? No worries!
Unlike consolidation loans, where you would need fixed property to qualify, Debt Review service is for everyone. Renters, owners, you’re all welcome!
- Immediate cash flow relief from the start.
Your new installment and the budget that takes care of your family will kick in from the get-go!
- Protection against angry credit providers.
Debt Solve Inc is the only way to protect your assets like your home or vehicle when finances get tight.
- These benefits and perks will make your life better while getting you out of debt!
The biggest benefit will be an emotional one. Emotionally you will become relieved from all of the pressure of being overly in debt.