The main objective of debt counselling is to provide a means of debt re-organisation in cases of over-indebtedness. Prior to debt counselling, no one could assist you when your finances went bad. You would HAVE been chased by creditors and eventually, potentially end up on the blacklist at Trans union (ITC).

Even though the above has been put in place to protect both yourself and your creditors, it is still important for both parties to keep the following aspects in mind:

  • The applicant needs to be honest with the debt counsellor and provide all income, expenses, assets and liabilities throughout the initial interview and for the whole process thereafter.

  •  The applicant need adhere to the monthly debt care fee that were discussed and arranged in the interview with the debt counsellor.

  •  Liaise on a regular basis with the debt counsellor and inform him / her of any variables that may occur in your finances.

  •  Creditors may not further contact the applicant.

  •  Creditors need to work professionally with the debt counsellor to reach an agreement of monthly instalments of the outstanding debt.

The ultimate objective of debt counselling is to rehabilitate the applicant as soon as possible and to start building a good credit record after the debt review process.

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