What Does Debt Rescue Mean?
Do you have sleepless nights thinking about how much debt you are in. Wondering “how on earth am I going to pay off all of my debt?” There is an option that can help you to sleep easier at night while you become debt free! Debt rescue may be the right choice for you.
How Does Debt Rescue Work?
The NCR (National Credit Regulator) introduced debt rescue to help over-indebted consumers better manage their finances and honor their debt repayments. Debt rescue is a process where a debt counsellor helps you to budget and repay your debts at a more affordable rate.
Your debt counsellor takes all your debt into consideration and negotiates with your creditors to reduce the monthly repayment as well as lower your interest rates so that you pay less each month. A personalised repayment plan is worked out, so you have enough money left over to pay for your day to day living expenses.
Once your creditors accept the revised repayment plan you enter the debt review process and get started on your debt free journey. Your creditors will no longer be allowed to take legal action against you and your assets are protected under the National Credit Act.
Let Meerkat Rescue You
Meerkat can help you to reduce your monthly repayments and rescue your finances. We are always looking out for you every step of the way. You can contact us if you have any questions and we will help you along your path to financial freedom. Contact us today for more!
The Meerkat Debt Management Process
1: You will go through a budget with one of our experienced consultants. This will allow us to assess your financial situation.
2: Your debt counsellor will determine if your monthly expenses are more than your income. This will determine your debt rescue plan.
3: You will be placed under debt review and your credit providers will be informed.
4: Now you only have to pay one reduced repayment towards all your debt every month and have enough money left over to afford your living expenses.
5: The process is finalised in court and you'll be on your way to a debt free future.
Get started with your personalised debt rescue plan, contact us today