Debt relief in SA is a widely discussed issue in South Africa, as numerous South Africans grapple with overwhelming amounts of debt. Many individuals in South Africa encounter financial hardship.
Therefore, the reason why debt relief in SA is such a hot topic at the moment. South African consumers are often unaware of the various options available to them for debt relief.
There are several debt relief options available to overindebted people in South Africa. This piece discusses debt relief in SA and the deferent debt relief solutions available to overindebted individuals and businesses in South Africa.
Our goal with this piece is to provide useful information to both consumers and businesses regarding the various debt relief solutions accessible in South Africa, and to offer guidance on where to go for support if necessary.
Debt Relief Solutions for Overindebted person(s)
Your financial situation will determine the appropriate remedy.
Exploring Debt Review as a Viable Debt Relief Solution in South Africa
Our Debt Counsellors are skilled in negotiating lower interest rates and repayment plans with your creditors. After the process is completed, the consumer will make a single monthly payment that will be divided among the creditors according to the agreed upon consolidated payment plan. By implementing this strategy, you can effectively reduce your monthly installments.
Sequestration: The Ultimate Debt-Buster. Get rid of your debt today.
People with excessive debt who do not meet the requirements for the debt review process use the sequestration process. If the monthly consolidated payment is beyond reach or the total debt amount is excessive, the debt review process may not be an achievable option to the consumer.
Liquidation - Get rid of Business Debt with Business Liquidation
Simply put, liquidation means declaring a business insolvent or bankrupt. If the director or member of a CIPC-registered business didn't sign surety for the debt, all company debt will be written off.
Debt Mediation / Restructuring:
When a consumer is not over-indebted but is struggling to make payments to creditors monthly, debt restructuring is a debt relief remedy that is often sought first before looking at any of the other debt relief solutions in South Africa. This option is more successful with business debt than individual debt. Debt review is a mediation tool for individual debt.
South Africa offers several debt relief remedies. Some remedies have a more severe impact on your credit profile and name compared to others.
After the pandemic, several South Africans are struggling financially, and therefore, these remedies are a welcome relief to financially overindebted South Africans.
Find a debt specialist to help you find the perfect solution for your specific financial needs.
Call Cure Debt and talk to one of our debt relief specialists. Find the best debt relief specialists in South Africa.
We can help you!
BECOME DEBT-FREE TODAY!
Where can I find an
NCR accredited Debt Relief Expert?
Cure Debt: Your Debt Specialist Don’t wait until it’s too late; call now!
WHY TRUST CURE DEBT?
We care about you, and how this process will affect you. We know and understand that should you decide to not continue with the process, we will lose money, BUT it is not about the money, it is about helping people getting out of financial distress. To help you START LIVING AGAIN.
WHAT CURE DEBT OFFER?
We took hands with Several Professionals, specialising in their different fields to serve our clients. With a combined experience of more than 120 years. We can proudly state that 'We are the best in the business of helping people and businesses BECOME DEBT FREE'.
We have an array of services we offer, and we SPECIALISE IN FINANCIAL DIFFICULTIES AND REHABILITATION.
Debt Review | Debt Counselling | Debt Mediation & Restructuring | Cancellation of the Debt Review | Sequestration | Rehabilitation | Liquidation | Credit Clearance of Credit Score | Business Rescue etc.
BECOME DEBT FREE TODAY...
