Are you looking to cancel your debt review? If so, perhaps first consider whether or not you are ready for this. Think of debt review as a debt rehabilitation process, which it is. The point of going under debt review is to help you get out of debt and protect your house and car from being repossessed while repaying your debts in a timeous, affordable manner.
If you happen to come into some cash, whether it be a policy payout, or you get promoted and become financially stable, or you have managed to get a debt consolidation loan from Quick Consolidation Loans, it would be best to talk to your debt counsellor and pay extra towards your repayment plan. This way your assets will remain protected and you will be issued with a debt review clearance certificate once all your debt has been settled.
If you feel that you have mastered how to budget and you have enough money and self-control to handle all of your debts without the help of debt review, remember to thoroughly think through your decision.
The National Credit Amendment Act now allows consumers to voluntarily withdraw from the process, without having to settle their debts completely. If you feel like you are ready to take this step, here is a guideline for the process of cancelling your debt review
As previously mentioned, it’s best to thoroughly think this decision through before cancelling your debt review. Take a look at our budget calculator to see if you will be able to terminate your debt review process, and manage your money. Or else, debt consolidation could be a solution. Fill out our contact form and one of our consultants will give you a call to explore your debt consolidation options with Quick Consolidation Loans.
We will be able to offer advice on the suitability of debt consolidation to your specific financial situation, as there are instances where it would prove unsuitable. Our consultants will be able to help you with regards to secured and unsecured debt consolidation, and advice as to which would be most favorable to your outstanding debts. Operating on a national basis, we can also provide you with debt counseling or a debt review in South Africa. As mentioned, debt consolidation could save you on monthly payments and interest rates, which has made it a viable option for many. To find out if debt consolidation in South Africa is an option for you, contact Quick Consolidation Loans today.