Debtfree Magazine June 2018
SA's Free Monthly Debt Counselling and Debt Review Industry Magazine. June 2018 issue. We look at all the heat from the Annual Debt Review Awards 2018 as well as catch up with both a Debt Counsellor and the brand new PDA.
SA's Free Monthly Debt Counselling and Debt Review Industry Magazine. June 2018 issue. We look at all the heat from the Annual Debt Review Awards 2018 as well as catch up with both a Debt Counsellor and the brand new PDA.
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STAYING IN DEBT REVIEW<br />
PAYMENT<br />
ESCALATIONS<br />
In the past, it has been very popular for some credit providers to ask<br />
that their debt repayment amount goes up each year.<br />
This is because of a naive and perhaps greedy attitude on their behalf<br />
where they assume consumers will have more money available to pay<br />
each year during the process. They probably think that all consumers will<br />
receive an increase in income which will be much higher than the rate of<br />
inflation.<br />
In most cases this is not what happens. Most consumers’ income goes up<br />
at a comparatively lower percentage than the increase in cost of living.<br />
This means that consumers actually have less and less to cover all their<br />
costs and debt review repayments each year.
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