Debtfree Magazine May 2018
Sa's Free Monthly Debt Counselling and Debt Review Industry Magazine. The May issue. All the latest news and updates on the Debt Review Awards. Do you have what it takes to make it through debt review?
Sa's Free Monthly Debt Counselling and Debt Review Industry Magazine. The May issue. All the latest news and updates on the Debt Review Awards. Do you have what it takes to make it through debt review?
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DO YOU HAVE WHAT IT TAKES?<br />
I DON’T NEED DEBT REVIEW ANYMORE<br />
It is also vital to realize that when you leave debt review before completing<br />
the process properly, your creditors may revert to your original contract<br />
obligations. This can mean you suddenly owe them a lot more than you<br />
ever thought.<br />
Example:<br />
Original obligation<br />
Restructured debt<br />
review repayment<br />
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6<br />
R1000<br />
(+ fees R10)<br />
R1000<br />
(+ fees R10)<br />
R1000<br />
(+ fees R10)<br />
R1000<br />
(+ fees R10)<br />
R1000<br />
(+ fees R10)<br />
R1000<br />
(+ fees R10)<br />
R500<br />
(no fees)<br />
R500<br />
(no fees)<br />
R500<br />
(no fees)<br />
R500<br />
(no fees)<br />
R500<br />
(no fees)<br />
R500<br />
(no fees)<br />
Growing Difference R510 R1020 R1530 R2040 R2550 R3060<br />
If after just a few months you suddenly leave the process, creditors may<br />
ask you for the difference all in one month, along with all the interest you<br />
missed. If you can’t pay, they may take new legal action.
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