If you are currently wanting to get out of debt and not sure how to do this post should help.
The main problem I find in my daily work is that the vast majority of people want to get out of debt but are not actually sure of the extent of their debt problems or if they actually are over indebted or just living beyond their means.
How To Get Out Of Debt
In order to make informed and educated decision about how to get out of debt, please read the below actions that can be followed for a debt free tomorrow.
The first thing you should do if you have decided to get out of debt, is get statements of all your accounts, e.g. credit cards, loans, bonds, vehicle statements etc. Take all these statement and write down the minimum payments you should be making in order service account and get out of debt.
The second thing you should do to get out of debt, is to see if this amount is actually available after paying for all your fair monthly living expenditure, these are things like groceries, travel, school fees, rent etc. So add up all your living expenses and see what you are left with after paying these. (Net salary – living expenditure) = X. See if this amount X is enough to pay the minimum amount towards your debt monthly. If it is not then you are over indebted and should seek the advice of a qualified debt counsellor who is registered with the NCR to get out of debt.
How We Will Help You Get Out Of Debt
A debt counsellor will assist you in order to reduce your monthly payments towards your debt so that you can not only get out of debt but also survive and afford to service your debt payments monthly.
Diverse Debt Counsellors are qualified professional debt counsellors who will help you get out of debt in the following ways.
1) Re-negotiate payment amounts with your credit providers to more affordable amounts.
2) Where possible try reduce interest rates should they be excessive.
3) Give you an exact payment proposal showing the period of time it will take to settle all your debts and the amounts to be paid to each credit provider so you can get out of debt.
4) Offer support and advice on how to live a debt free life and how to avoid debt burdens later on in life.
If you are currently struggling to get out of debt, and your are not sure how to deal with it, contact a debt counsellor today for the professional advice you have been looking for.
If you really want to get out of debt, please ensure the debt counsellor you choose follows the below NCR guidelines as there are many fly-by-night firms claiming to be debt counsellors and have so called get out of debt schemes.
1) Ensure the debt counsellor has a valid NCR registration certificate. Please check on the ncr website on www.ncr.org.za or phone 0860 627 627 for verification.
2) Please ensure the debt counsellor uses a registered (PDA) payment distribution agent. No debt counsellor should ever request you to pay money into any of his/her business accounts even his/her fees should be paid to the PDA.
3) Ensure the debt counsellor charges fees within the NCR guidelines as many debt counsellors are charging high fees upfront which is not correct and which meansd you will take a long time to get out of debt.
4) If you do not feel comfortable with the debt counsellor rather look for somebody you can trust and somebody that can answer your questions without hesitation and uncertainty. You need to feel comfortable with the person who is tasked with the position of responsibility of sorting out your debt problems.
5) Ask plenty of questions and understand fully what you are entering into. And how this impacts on your current ability to use credit.
If you would like to check any details or information a debt counsellor gives you feel free to check on the NCR website or phone the NCR in order to ensure the advice you are given is the professional advice you deserve.
I hope this allows you to make the decision of whether or not you require the services of a debt counsellor to get out of debt, a bit easier and the choices you make after debt counselling to be easier ones with the added knowledge and know how you have acquired in reading this article.
All the best in your journey to get out of debt!
Yours in Debt Counselling,
Trevor Armfield (For help with debt please call my office: 031 827 5906)
Professional Debt Counsellor, Registration Number: NCRDC1036