PROS & CONS OF DEBT REVIEW

Consumers don't always fully understand the debt review process or its pros and cons. This becomes clear when you listen to the many questions that consumers have. Christine, one of our debt relief experts, will discuss Debt Review's advantages and disadvantages in the following blog post. Knowing the pros and cons of debt counselling is important if you consider participating in it.

When considering debt counselling, you'll experience the following advantages:

1. During debt review, you will be protected from legal collection processes.

2. Your salary will not be subject to garnishee orders.

3. The sheriff will not seize your movable assets (furniture, vehicles, caravans, trailers, etc.).

4. Take comfort in knowing that your house(s) or vehicle(s) will remain secure, regardless of whether they're fully paid off or financed.

5. Make a single monthly payment to the NCR-accredited distribution company.

6. Monthly installments can decrease by up to 75% in certain cases, depending on affordability.

While the debt counselling process offers numerous benefits, it also has its downsides. It is important to be fully aware of the risks associated with the process.

1. Individuals who are under debt review will be listed on the credit reports as under debt counselling.

2. Until the debt review process is complete, you will not be able to take on any new debts.

3. Debt review cannot include creditors who have taken legal action unless they give their consent.

4. Creditors will receive notification if you decide to stop paying the debt review, and you will lose the protection the debt review process provides.

At CureDebt, we will ensure that you know the pros & cons of the debt review before proceeding with the process.

Why should you trust Cure Debt to help you resolve your financial difficulties?
We care about you and how this process will affect you. We know and understand that if you choose not to continue with the process, we will lose money. But it is not about the money; it is about helping people get out of financial distress. To help you start living again. 

What does Cure Debt offer?
We collaborated with a diverse group of experts, each with their own area of expertise, to cater to our clients' needs. Boasting a wealth of knowledge accumulated over many years. We can proudly state that 'We are the best in the business of helping people and businesses become debt-free.'