The Benefits of Debt Review
Given the popularity of online transfer payments and credit card purchases, debt accumulation has become a huge problem. Many individuals make purchases without a detailed financial plan. This can lead to a high debt figure that you may be unable to pay.
In order to have manageable debts it is important to get a debt assessment on a regular basis. The debt review process enables you to re-structure your debt repayments. TA Consulting can provide debt counselling services.
If you are apprehensive about your debts, we present some of the benefits of debt review to encourage you to contact us to find out how we can assist you.
- Restructuring of debt
- As the debt accumulates there can be a negative listing given to your expenses. A debt review enables you to make a schedule for the debt payment. The debt counsellor can help you in developing a budget based on your financial needs. The budget is decided after the utility expenses have been taken into account. This helps in allocating a part of your income to pay the debt on a monthly basis. Debt review enables you to set realistic goals for payments as per your future earnings.
- Discuss payments with creditors
- Debt review helps in negotiating repayments with your creditors. A debt counsellor can help you in getting payment terms that you can easily pay. In the absence of debt counselling, creditors may charge you a higher amount so that they can get a larger payment on your debt.
- Prevent legal action
- If payments have not been made to creditors at the assigned date then you may face negative consequences. A debt review can be used to prevent these creditors from taking a legal action against you. During this time period, debt counsellors can restructure your debt repayments so that you are able to pay cash to creditors.
- Straightforward payments
- Debt reviewing process can assist you in simplifying payments to creditors. Under debt review you may make separate payments to creditors as instalments. Debt review is a rehabilitation process and you will be issued with a credit clearance certificate when all of your debt is paid up.
Debt counsellors can help you with re-structuring your debts and helps you to pay a reduced instalment every month to your credit providers. This will ensure that you will have enough money at the end of the month for your daily living expenses.
TA Consulting offers free, no obligation Debt assessments. Let us deal with your creditors.