An introductionWhen considering debt mediation as a debt relief solution, it's crucial to inquire about its effectiveness for both business and individual debt.
Who am I?
Hey there, I'm Christine! I have been working in the debt relief industry for about 30 years now. With a great deal of knowledge under my belt, I'd love to break down debt mediation for you in simple, easy-to-understand terms.
What is debt mediation?This is a helpful solution for individuals and businesses struggling with overwhelming debt. It allows them to negotiate more manageable payment plans. Helping them protect their businesses from potential legal action and ultimately avoid losing their assets.
Everyone always wants to know: What are their chances of success?
To effectively negotiate lower installments with creditors, it's important to act swiftly before legal action is initiated. After legal action has been initiated, the debt becomes overdue, and the creditors are understandably unhappy with the agreement breaches.
Is it possible for individuals or business owners to take on the mediation process on their own, or is it advantageous to employ an accredited debt relief expert?
If you have a skilled debt relief expert handling the negotiations, your chances of success are significantly improved. These professionals bring a wealth of experience to the table and have been officially recognised by the
National Credit Regulator as registered debt relief specialists.
What are the odds of successfully mediating individual debt?
Did you know that when individuals need help with their debt, they can turn to a process called Debt Review? It's a form of debt mediation that can provide some much-needed relief. Debt Review is included in the National Credit Regulators' action plan designed to assist individuals who are experiencing financial difficulties.
Negotiating individual debt in your personal capacity is not advisable.
Individuals may attempt to negotiate these debts on their own, but it's important to note that the success rate is typically quite low. However, when you enlist the assistance of a skilled and accredited debt counsellor, your chances of success greatly improve.
Mediation for businessesWe experience incredible results with debt mediation for businesses. The creditors are willing to discuss alternative payment arrangements instead of giving up on recovering the debt in the event of business liquidation.
How effective is debt mediation via the debt review process for individuals?
Our accredited debt relief experts have achieved impressive results with debt mediation. We discovered that individual debt mediation through the debt review process is also extremely effective and can assist many over-indebted South Africans.
Could you tell me about the success rate you've had with mediation for businesses?
In terms of the debt mediation process in businesses, we can confirm that we have experienced excellent outcomes with the mediation process and that once the process is underway, we can ensure that if the over-indebted business adheres to the terms of the mediation agreement, they will recover financially without losing their businesses or assets.
Contact Cure Debt today to assist you with all your financial difficulties and start living again.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Contact Cure Debt rather than relying on the information herein to make any decisions. The information is relevant to the date of publication.
