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10 Signs That You’re Ready For Debt Counselling

The National Credit Regulator (NCR) has once again urged South Africans struggling to keep up with financial obligations to consider Debt Counselling. With the huge cost of payment holidays now hitting home and the effects of COVID-19 wreaking havoc on the South African economy, the future is uncertain for those who are already in financial distress. DebtCare has a renowned team of certified Debt Counsellors who are ready to partner with you to get you out of debt for good. Your journey to debt-free living starts with our free online assessment. 

For anyone currently struggling with debt, now would be a good time to be honest with yourself and the probability of getting out of debt in the near future. Especially considering the current climate in South Africa. To help you make that decision, we’ve put together a list of signs that are a good indication that you’re ready for debt counselling.

10 signs that you’re ready for debt counselling:

  • Defaulting on your last three debt repayments.
  • If you’re going into debt to buy basics like groceries (paying for grocery shopping on your credit card).
  • If your debt totals more than R75 000.
  • You’re constantly thinking about money and what you’re going to do before the next payday. You also move money around to cover certain financial obligations.
  • If you’re considering a debt consolidation loan because you believe paying a single repayment every month will be better than paying many.
  • You’re receiving threatening calls from creditors, debt collectors or your creditors.
  • Debt is starting to affect your mood and relationships.
  • More than 80% of your salary is going towards paying off bad debt.
  • Any assets have been repossessed.
  • Whenever money is deposited into your account, creditors “cash grab” and you’re left with next to nothing.

If a few of these signs struck a chord with you it’s time to let a debt counsellor review your current financial situation. DebtCare’s online applications are free of charge. You can also request for a callback or send us a WhatsApp on 082 800 8423

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