Johannesburg residents have some of the highest debts in the country, and as a result the city has a high number of citizens who are over-indebted and in serious need of debt counselling by a qualified debt counsellor. It is estimated that the average citizen in the province owes more than R4000.00, and although it is not a huge amount to some, it is staggering when one considers the population density of the Gauteng and especially Johannesburg.
A debt counsellor is someone who specialises in assisting consumers to rehabilitate their finances and prevent them from negative debt consequences such as asset loss or legal action. This is because debt counsellors are regulated by The National Regulator under The National Credit Act, and provided that they are registered and accredited - their actions afford their clients legal protection from creditors whilst debt counselling is in progress.
A debt counsellor draws up a budget that is feasible to the consumer. This budget makes way for both the consumer’s creditors and living expenses, and using this budget a debt counsellor will negotiate with creditors to lower payments and interest rates.
There is no need for anyone in Johannesburg to barely scrape by in an expensive city when a debt counsellor in Johannesburg can assist them and help rewind the clock on their financial reputation.
Article written by: Andrea van Tonder 04-2013