http://www.debtbusters.co.za

DebtBusters is South Africa’s leading and largest debt management company, which offers amongst other debt solutions and debt consolidation, the solution debt counselling. In 2007, the formal debt solution, debt counselling, was introduced by the National Credit Act. It is a similar process to that of debt consolidation, as it allows you to place all of your debts into one single account, rather than having the hassle of paying off multiple accounts every month. Debt counselling is a better and more manageable solution for improving your financial situation and making debt repayments, as it reduces the amount interest you are required to pay on debt repayments. Debt counselling is similar to debt consolidation, as it will enable you to get better interest rates on credit in the future.

This video takes you through debt counselling process and will enable you to see how the process is similar, yet differentiates from debt consolidation. DebtBusters debt solutions such as debt counselling and debt consolidation can be further explained by a financial consultant by calling 086 999 0606.

A DebtBusters financial consultant will assess your financial situation a draw up an appropriate monthly budget, which will enable you to meet your debt requirements and make one monthly debt repayment. Just like debt consolidation, in order to qualify for debt counselling, all you need to do is provide DebtBusters with your Identity document, bank statements and latest payslip. However, it is also essential to recognise that you have to be deemed over indebted and earning a monthly income.

Due to varying financial situations, DebtBusters will be able to advise whether debt counselling or debt consolidation is best suited to your financial circumstances. In terms of debt consolidation, our financial consultants will be able to provide you with secured or unsecured debt consolidation. However, in most circumstances, debt counselling is considered as a preferable and more efficient debt solution and will give you a second chance to build a brighter future.

Debt services such as debt consolidation, debt counselling and debt management are available on the DebtBusters website www.debtbusters.co.za. Just like debt consolidation, debt counselling can reduce costs and save you money on monthly debt repayments and interest rates. Debt counselling is a viable debt solution, just like debt consolidation and can help consumers to become financially literate and assist South Africa with overcoming the economic and social challenges it currently faces,

The Debt Review process was introduced to take off the pressure from over-indebted South African consumers. But the process has had unintended results, consumers’ complaints often do not get resolved. Now in an attempt to speed up the process of handling complaints and making the system efficiently, the National Credit Regulator has now taken over complaints from dedicated agencies such as the office of the Credit Ombudsman and the National Debt Mediation Association, all to improve the lives of over-indebted consumers.

Watch YilungeloLakho every Friday at 13:30 on SABC 1. Catch the programme again on Mondays at 09:30 on SABC 1.

YilungeloLakho, an interactive live show, aims at informing and educating consumers on their rights. Every Friday we focus on a particular topic for the entire hour – kicking off with an insert which serves as a background/scene setter, after which our studio guests/experts or commentators analyse the issue. Telephone lines are open during the whole show for viewers to participate.

consumer@sabc.co.za
www.facebook.com/yilungelolakho
Twitter @yilungelo