Debt Review is able to drastically improve your financial circ*mstances if you’re over-indebted but also requires you to commit and be prepared to put in the work. If you are struggling to manage your debts, it is time to take action. By applying for Debt Review, you are cut off from receiving any further credit or applying for new loans for the duration of the process. Your focus shifts towards repaying your current debts in a way that works for your affordability.
One of the main objectives of Debt Review is that you’re actively working towards overcoming debt. The only way to get rid of the debt you have is to assess your current situation and better it, which is where Debt Review makes all the difference. Instant financial relief and protection from creditors are benefits that help you rebuild your life and improve your credit over time. If you have a cheque account in overdraft while entering Debt Review, we advise that you downgrade to a savings accounts instead. You will not be able to open new accounts while under Debt Review, however you can open a new bank account.
A difficult reality facing over-indebted consumers is their inability to cope with the various debt repayments in their name. The last thing anyone in this situation should do is apply for more credit or attempt to open new store accounts. Debt Review is a formal legal process and you are guided through it by one of our National Credit Regulator (NCR) approved Debt Counsellors. Once we can determine what you owe your creditors and have insight into your income and expenses, our team restructures your debt repayments through negotiations with your creditors. You pay back less towards your debt every month and have enough money left to live comfortably.
At Debtco Group, our service is transparent and our team is always willing to impart honest and useful advice. The rules in place for the process to work, like not being able to attain new credit or pursue loans while under Debt Review, are important for successful outcomes to follow. Making the choice to get your financial issues under control will improve many other areas of your life, too, and is well worth the few limitations you face during the process. You are still able to open a bank account and if you’re in overdraft, either switch banks or downgrade from a cheque account to a savings account.
The less debt you have, the easier it becomes to enjoy the important things in life. Let Debtco Group work with you on a result-driven Debt Review service to restore your financial freedom. You can apply online and look forward to what comes next!
