With the prime lending rate at a current 14% (and with talk of an emergency rate cut being implemented) those of us who have been up to our collective eyeballs in debt should, theoretically, be feeling an easing of the financial pressures that have been plaguing us for the better part of the past year or longer. 
Following the recent announcement of a 1% decrease in the prime lending rate there is no time like the present to take advantage of this and take charge of your finances by consolidating your debt. 
If you can no longer afford your debt repayments, you can contact a debt counsellor who has been trained in accordance with the 2007 guidelines and standards of the National Credit Regulator (NCR). According to the law, it is required that consumers who find themselves unable to meet their debt obligations be referred for debt counselling before any legal action can be instituted against them for the non-payment of debt. 
Debt review is an application made by a consumer to a debt counsellor that allows the debt counsellor to investigate that person’s financial position. This course of action is taken if the person applying for debt review is unable to, or is experiencing difficulty in, meeting all of his/ her financial obligations to credit providers. 
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Wednesday, 08 February 2012
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This website is based on journalistic research. It does not constitute financial advice. Any information should be considered in regard to specific circumstances. All tips are followed at your own risk and should be followed up with your own research. © Copyright DebtConslidationLoan.co.za Your debt free community |
