Is achieving financial freedom possible or is it merely an unrealistic fantasy? How can I know if my financial decisions are reasonable and if these might result into bankruptcy or not?
When you experience financial difficulties in your business, it is sometimes better to walk away from the business and find a liquidation expert that will do an efficient business liquidation.
Does CureDebt truly represent South Africa's premier debt relief expert? 10 reasons why CureDebt is the best debt relief expert in South Africa. We can proof it.
DECLARING BANKRUPTCY
In layman's terms, declaring bankruptcy implies the following:
You are bankrupt or insolvent if your liabilities exceed your assets. This is a valid reason to file for bankruptcy, also known as insolvency, surrender of estate, and sequestration.
Consulting with an insolvency expert, who can explain bankruptcy in South Africa, the process and remove misconceptions about sequestration, should be your first step in addressing insurmountable debt.
To better handle multiple liabilities, many South Africans have turned to debt consolidation. Debt Consolidation in South Africa can be one of two things, namely:
1.
DEBT CONSOLIDATION LOAN
One loan that settles all your debts, which you repay to take advantage of the lower interest rates and a combined lower instalment towards the debts; or
2.
DEBT COUNSELLING / DEBT REVIEW
Rather than taking out a loan, you can consolidate your debt into one manageable monthly payment and work with a trained debt counsellor to negotiate reduced interest rates with your creditors through a debt review or debt counselling programme.
Putting together Debt Managment Plans form part of a Debt Relief Experts' job description and they are well versed in all the different debt management plans available in South Africa. In some instances, even abroad. However, we are mostly in South Africa. Therefore, debt management plans are very complicated and need to be managed properly to be effective.
Navigating your finances while over-indebted is like getting lost in a labyrinth, and hence not the easiest thing to do. This guide on navigating finances while over-indebted will show you how to find your way out of the labyrinth and start living a debt-free life once more.
To avoid becoming over-indebted. Because interest rates and inflation rise continuously, it is an ongoing battle to survive without credit. You can do it too. If you want to know how to live a debt-free life, we can help you.
Skuld oplossings in Suid Afrika sluit in:
1. Skuld mediasie
2. Skuld berading (Debt Review)
3. Sekwestrasie (ook bekend as bankrotskap / insolvensie)
U sal merk dat lenings nie daar gelys word as ‘n oplossing nie. Indien u baie vinnig in die warm water wil land, betaal skuld met skuld. Dit is nooit ‘n slim plan nie.
