The government legislated the National Credit Act on the 1st of June 2007 to promote a regulated, fair and transparent credit market. The Act protects consumers from reckless lending and provides over-indebted consumers with a means to pay off their debts in a responsible and affordable manner. They have been trained by the National Credit Regulator (NCR) to act as a mediator between the consumer
and the credit providers, arranging debt repayment plans that turn your mountain of debt into a manageable molehill. Debt Counselling is not Administration, Sequestration or Debt Consolidation. With Administration and Debt Consolidation, you hand control of your finances over to a third party and end up paying off your debt over a very long time. You will also pay back much more that your original debt. With Sequestration, your assets are sold off to cover your debts, leaving you without any assets and an inability to obtain credit. Debt Counselling allows you to keep all your assets and pay back all your debts in as short a time as possible. Once you have applied, none of your creditors may take legal action (repossessions, garnishee orders etc.) against you. If you are over-indebted, there really is only one viable option. SMS DEBT AND YOUR YOUR EMAIL ADRESS TO 0844813335 for immediate assistence.
