A: Debt Review is a great option for South Africans in serious financial trouble, still, they will need to consider the pros and cons of the program.
The Pros:
- Consolidate your debt without having to add an additional loan to your debt mass.
- Monthly instalments could be reduced by up to 60%.
- Financial relief with the above mentioned reduced instalments.
- Your home and car stay safe – No repossession, no legal action from your creditors.
- You will be able to afford your family’s crucial living expenses.
- Once the program is successfully completed you will enjoy complete financial rehabilitation with a clear credit record.
The Cons:
- You will not be allowed to get credit while in the program.
- Your Debt Review (application/status?)will be listed on your credit record until the completion of the program or when all your debt listed under debt review are paid up in full.
- The payment period of your debt will be extended in order to lower your monthly instalments.