Is Debt review good or bad?
We often get the question from consumers whether debt counseling is good or bad.
We wrote this to clarify that it is not a simple yes/no answer but a complex set of answers for both yes and no
Debt counseling is good if……
If you yourself decided and realized that you are over indebted and that you cannot afford your monthly debt repayments anymore
If you pay your debt on time but you do not have enough money left to sustain your current lifestyle.
maintaining your current lifestyle means that you pay your debt and don’t have enough for your living expense like groceries
Debt counseling is good if you want to get a structured plan to get out of debt AND you stick to it
Debt counseling is bad if……
If you manipulate the system to buy time and to try and get extra money every month to spend on unnecessary stuff
If you do not stick to your new budget and keep up with your proposed debt review payment plan
If you ignore the debt counselor and creditors to comply with the provisions of the Act with regards to Debt counseling
In short, debt counseling is a very effective tool to assist you if YOU made a educated decision to repay your debt
Contact us today with the form below to have a free debt counseling assessment done