Coerced Debt and Human Trafficking | DFI30 | Ep. 490. Doug Hoyes is joined by guest Richard Dunwoody to unravel the often-overlooked connection between human trafficking and coerced debt. With Ontario facing the second-highest rate of police-reported human trafficking in Canada, the conversation sheds light on how traffickers exploit victims financially. The focus turns to Bill 41, the “Protection from Coerced Debts Incurred in relation to Human Trafficking Act, 2023,” exploring its role in safeguarding victims from crushing debts. From explaining what coerced debt means to tackling potential challenges, the episode breaks down the proposed legislation’s impact on creditors, unlicensed debt consultants, and, most importantly, the victims. Join us for a discussion on how this legislation could be a crucial shield for those affected by human trafficking and coerced debts.

Related Links:

Human Trafficking and Financial Fraud: A Survivor’s Story
https://www.youtube.com/watch?v=9z8kNmVuFpY

A Different View of Credit Counselling & Getting Out of Debt
https://www.youtube.com/watch?v=qLWWNREu4x4

Concord Adex Survivors Fund
https://www.survivorsfund.ca/

#Debt #humantraffickingawareness #Coerced #CoercedDebt #DebtFree #DebtFreeIn30 #NewLaw #NewLaws #Canada #DebtRepayment

Hi, In this video I discuss the difference between debt review and debt consolidation
Video link for debt review:
https://youtu.be/d3seibXTIeY

Video link
https://youtu.be/pz3yobpAq2Y

What is debt review?
Debt review is a legal process intended for over-indebted individuals to manage their debts through a debt counselor approved by the National Credit Regulator. In the debt review process, a debt counselor creates an affordable repayment plan for their client.

What is debt consolidation?

Debt consolidation, on the other hand, involves combining all of a client’s outstanding debt repayments into one single payment. This can be done through a new loan from a bank (which usually has lower monthly payments and terms), or through a debt consolidation company which arranges to repay all outstanding debt on behalf of the client.

HOW THEY ARE SIMILAR:
Both debt review and debt consolidation essentially help individuals manage their debts responsibly by reducing monthly payments and interest rates. The idea is to make debt repayments more manageable so that clients can live without constant financial stress.

THE MAIN DIFFERENCES:
The primary difference between these two debt-reduction options is that debt review is a legal and regulated process while debt consolidation is a private loan.

Debt review is intended only for over-indebted individuals. If you seek debt review to manage your finances, it will be logged with the credit bureaus and is a formal process reviewed by regulatory bodies.

Debt consolidation, however, is available to individuals who have not defaulted on any payments but want one easy to manage payment each month. This option is seen as a more straightforward solution for those looking to manage their monthly expenses.
In conclusion, debt review and debt consolidation are two different solutions to debt problems in South Africa. Debt review is intended specifically for those over-indebted while debt consolidation is available to more borrowers. Ultimately, it’s important to speak with a financial expert before making a decision. Discuss your options with a qualified loan expert before deciding on the best debt solution for your unique situation.

Thanks

D & R is an accredited Debt Review counsellor and Administrator, but what is the difference between Debt Review and Administration?

If there is a question you would like answered, comment here below and we will do a video reply for you!

#drincorporated #debtfree #administration #debtfreejourney #debtreview #debtrelief #debtrecovery #debtcounsellor #transparency #carrepossession

DebtSafe’s PR & Communications Officer, Carla Oberholzer, gives a breakdown on VIA TV’s Business that Matters (Besigheid Wat Saak Maak) in 2022’s Season 6, Episode 7.

Are you over-indebted and in need of professional help?
Visit DebtSafe’s website for more information: https://bit.ly/3uqizCy

#returntofinancialfreedom
#debtsafe
#becomedebtfree

This presentation describes mediation analysis and the connections between traditional mediation analysis and recently developed causal mediation analysis. Mediating variables have a long and important history in theoretical and applied research because they describe how and why two variables are related. One common example of applied mediation research is the study of the mediating processes that explain how a prevention/treatment program achieves its effects on an outcome variable. If the intervention’s active ingredients are identified, the intervention can be made more powerful and more efficient. Other applied mediation examples include identifying how a risk factor leads to disease and how early life experiences affect later development.

Iemas Financial Services takes a look at the difference between debt review and debt consolidation. We offer debt consolidation loans to our members and also provide free financial wellness workshops at all our participating employer groups to assist employees in managing their finances more responsibly.

Do you know the difference between debt review and debt consolidation? Watch our video and phone a consultant to find out more on 0861 043 627 https://www.iemasfinancialservices.co.za/ #IemasFinancialWellness #IemasCares

The Description for this book, Between Debt and the Devil: Money, Credit, and Fixing Global Finance, will be forthcoming.