So when should a debt advisor be brought in

National debt advisors is a registered debt counselling firm in South Africa. As the festive season is approaching a lot of people will spend a lot and end up in huge debts that might lead in one loosing property or getting blacklisted, January is also coming fees must be paid, rent and all other bills needs to be settled and you might find yourself borrowing more than your income and that will strain you or even lead to depression.

Hence, we had a conversation with, Rene Moonsamy from The National Debt council discussing all legal procedures that should be taken when one is owing a company, what can be done to prevent property loss and being blacklisted.

Rene spoke about a debt review which is a debt release measure provided in terms of the national providers act. It helps with consumers that struggle to pay their debt, a debt councilor comes in to negotiate to reduce your interest rate or installments and your payments to an amount that is affordable to you.

So when should a debt advisor be brought in: 

- When you use your credit card to purchase groceries or pay other debt during the month.
- Skipping payments on your accounts.
- If your avoiding phone calls from credit providers.

It will help you to bring in a debt councilor to avoid you from being harassed. 

Moonsamy also said debt collectors do not have a right to harass debtors and advised people to stay out of huge debts this festive season.

By: Thomas Cedrick