Debt Review by Sandton Debt Counselling

Debt review is a legal process aimed at assisting individuals overwhelmed by debt. Through this process, a debt counsellor assesses the person's finances, and negotiates with creditors to restructure debt payments into a more manageable plan, reducing monthly installments and extending terms. This offers financial relief and protects the individual from legal action by creditors. While under debt review, one cannot acquire new credit, ensuring focus on repaying existing debts. It's a beneficial pathway for those deeply indebted, providing a structured approach to regain financial stability without declaring bankruptcy, though it requires commitment to a disciplined repayment plan.