Millions of South Africans are unable to live without credit and are falling behind on their debt repayments, resulting in over-indebtedness. According to the National Credit Regulator, nearly 42 percent of the country’s 23 million credit-active consumers are considered impaired. This indicates that they are three or four months behind on their payments or have judgements against them.
According to experts, there are several reasons why consumers become over indebted – these reasons include reckless lending by credit providers, a lack of knowledge on the part of consumers and perhaps a lack of responsibility when it comes to repayments. Other factors include a faltering economy, and the rising cost of fuel, food, electricity, water, rates, and other basic costs. The COVID-19 pandemic has also been a contributing factor, and as a result this has affected consumers financially.
Those that find themselves in an unhealthy debt situations often become extremely stressed out by having to deal with angry creditors and manage their finances.
Over indebted consumers have quite a few options available to them to assist with their financial struggles. But out of all the available debt relief programs, Debt Review (also known as Debt Counselling) is the best available option in South Africa.
Debt Review is a legal procedure that will assist you in repaying all of your debts over time. This debt relief method makes debt more bearable and teaches you how to handle your finances effectively. These are the benefits of being under Debt Review with Pioneer Debt Solution:
You Pay One Fixed Monthly Payment.
When you go under debt review with Pioneer Debt Solutions, you no longer have to stress about your monthly debt repayments. We will simplify the process for you, and you will only have one, fixed, lower repayment per month.
Reduced Monthly Payments Towards Debt.
The main aim of debt counselling is to help you pay off your debt for good, while still allowing you to have enough money to cover your other expenses. Pioneer Debt Solutions will reduce your monthly repayments towards your debts, granting you the ability to afford to cover all of your other living expenses.
Once you are under Debt Review with Pioneer Debt Solutions, we will handle all of your communication with your creditors, meaning you will no longer receive any legal letters or phone calls from creditors demanding payments.
The National Credit Act does not allow anyone under Debt Review to be blacklisted by their credit providers.
Is a Debt Free Life Guaranteed After Debt Review?
Of course, Pioneer Debt Solutions promises that through our successful debt review procedure, you will be able to pay off your debt and achieve financial independence if you are determined to work for a debt-free future and make your monthly debt payments on time.
Out of all the available debt relief programs available, Debt Review is the best option that one can use to break the shackles of debt. If you’re interested in our services, get in touch with us!