How does a Cape Town debt counselling company help?
The main role of a Cape Town debt counselling company will be to assist consumers in managing their finances and enabling them to pay off their debt, without negative legal consequences. Usually, this follows a similar process:
- The consumer applies for debt review and may either be accepted or rejected
- Their finances are reviewed by the debt counsellor and their budget restructured to prioritize debt payments
- The counsellor negotiates with the creditors to lower payments to fit the new budget
- A payment distribution agency is recruited to handle the actual payments
- The consumer is given a clearance certificate when all debts are paid