When consumers face a debt crisis their first thought is to find a way to protect the assets they have spent a lifetime accumulating. Asset loss due to seizures and auctions are one of the most hurtful consequences of debt. Johannesburg has one of the highest rates of debt in the country and as a consequence more consumers are negatively affected than other provinces. A Johannesburg debt counsellor can help consumers avoid these consequences by assisting them with the debt counselling process.
By approaching a Johannesburg debt counsellor, a consumer is making the safest choice for their monetary future. If a consumer in Johannesburg faces numerous bills every month, and all their income is swallowed by debt every month, it may be time for them to approach a Johannesburg debt counsellor.
Once a consumer in Johannesburg applies for debt counselling, the debt counsellor will inform all the relevant creditors that they consumer is now under debt review and therefore they are shielded form legal action by the umbrella of the process. This means that assets cannot be seized, nor can any summons be sent. Consumers may receive notices of default but these are usually sent only for the record keeping purposes of the creditor and has no effect on the consumer as long as they keep with the program devised by the Johannesburg debt counsellor.
There is no doubt that a debt counsellor is one of the most effective and efficient ways to manage debt for a consumer who has lost control of their expenses, and in the city of Johannesburg where debt runs rampant it has become a booming industry unto itself.
Article written by: Andrea van Tonder 04-2013