When you are in debt counselling, creditors cannot take more action against you
There is no permanent record of having undergone debt counselling
There is only one monthly repayment to be made
Your budget will meet your basic needs (housing, clothing, transport, food) first before making provision for your debts. You will never pay more money than you can reasonably afford
A debt counsellor will suggest ways of cutting costs and saving money
You will no longer get calls from your creditors demanding payment. This will lessen your stress and allow you to focus on fixing the problem of getting out of debt
Factors to consider
You are not allowed to have more credit while undergoing debt counselling
It does cost a little bit of money, but the fees are set by law
Your debts might take longer to pay off as a result of paying smaller amounts each month
You will not have access to more credit whilst under debt counselling
There will be a notification in this regard on your credit profile
