Learn about Debt
1. Don’t ignore your Debt
- Resolve to deal with your indebtedness using the means at your disposal
- Don’t be threatened or bullied into making promises you can’t fulfil, you have rights.
- Cut down on unnecessary expenses and luxuries
- 2. Prioritise and pay your debts
a budget representing all your income and monthly commitments
- First pay the bills on essentials like housing electricity and insurance
- First pay important debt like your house and vehicle
All debt start while your life is under control, but circumstances can change.
- Lose your job,
- Your salary could decrease
- You could go through a divorce
- Overspend on your credit cards.
We know that debt can be confusing and has destroyed families, especially
with today's economic situation and interest rates, that's why we aim to sort
out your debt problems for you and give you peace of mind.
Although everyone intends to pay his or her debts, and wants to pay them on time, it is not always possible. Sometimes there is not enough money to go around. If you find yourself in this position, knowing you are struggling with various debt, including mortgage loans, vehicle loans, credit cards, store cards and unsecured loans then you are Over - Indebted. Being Over-Indebted means your expenses are more than your monthly income and if you pay your debt there is not enough money left for your living expenses.
Leana Van Wyk
Marisca Van Wyk