Debt Counselling Services and Applying for Debt Review
You don’t have to employ the services of a lawyer at great expense to help you clear your debt as well as any judgments or black listings that you may have against your name. The National Credit Act of June 2007 was instituted to assist consumers in clearing their debt in an efficient manner without having to spend money that they clearly don’t have. According to the Act, any person can apply for debt counselling services no matter what their income or how much debt they may have accumulated. The debt review process is governed by the Act as well as the National Credit Regulator, an office that was established as the controlling body for debt counselling services.
To become part of the process, all you need to do is submit the relevant documents and information to a debt counsellor. Once the debt counsellor has assessed your debt, they can either reject or accept your application for debt review. Rejection of an application is normally only due to the incorrect submission of documentation. Upon acceptance of your application, the debt counsellor will ask you to destroy all credit and store cards currently in your possession and you will have to enter into an agreement not to create any new debt whilst you are in the debt review process. As part of the debt counselling services, the counsellor will contact all your creditors and inform them of your status meaning that you will no longer have any contact with them.
There are a wide range of companies that offer debt counselling services for you to choose from. Make sure that the counsellor you select is registered with the National Credit Regulator and that they are reliable and have your best financial interests at heart.
There are many other benefits to applying for debt counselling services and you can simply contact us to find out all you need to know.