Being in a situation where you are struggling with debt is difficult enough. Adding the fear that you will lose a valuable possession, like your automobile, for failing to make payments is merely a prescription for financial disaster.
You don’t have to be in this situation. There is a technique to guarantee that you keep your assets and pay off your debt at the same time. If you employ a debt management approach, you will be completely protected, which means there is no chance you will lose your car or any other assets for that matter.
In South Africa, the National Credit Act of 2007 made debt counselling a recognized means of debt relief. The advantages of joining include better payment terms, lower interest rates, and legal protection.
How debt counselling protects your car: one of the many advantages of the debt counselling process is that your assets, like as your home and vehicle, are protected.
Your debt counsellor will negotiate with your creditors on your behalf to create a realistic repayment plan with lower interest rates on your various credit agreements so that you pay less.
Using this strategy, you may progressively pay off all of your debts, including the payments on your auto loan, until you are debt-free.
Your debt counsellor also acts as a liaison between you and your creditors, so they aren’t able to call you nonstop or remind you to make payments. No one will be able to contact you to try to retrieve your information.
For a customized financial solution plan, call Financial Debt Advisors at 0212710223 or fill out a form on our website: https://flda.co.za/application-form/