What is debt counselling and do I need it?
If you feel overwhelmed by your debt, and are struggling to make your monthly repayments, you may need the services of a debt counsellor.
Debt counselling is when a registered debt counsellor negotiates with your creditors on your behalf. Your payment period will be extended so that your instalments can be lowered, and you will not have to deal with creditors each month, and your assets such as your home, car and furniture will be protected by a court order. Debt counsellors also negotiate for lower interest rates, giving you more money at the end of each month, and safety in the knowledge that your creditors are being paid.
At the end of the repayment period, you will be debt-free, and will be able to apply for credit again.