15 things you didn't know about Debt Counselling

Debt counselling is a service that is designed to help individuals who are struggling with debt. It is a way for you to get back on track financially and start living a debt-free life. While debt counselling is a relatively well-known service, there are many things about it that you may not be aware of. In this blog, we will explore 15 things you may not have known about debt counselling.

1. It is not the same as debt consolidation. While debt consolidation involves combining multiple debts into one loan and incurring more debt, debt counselling involves working with a counsellor to create a plan for paying off debts.
2. It is not just for people with low incomes. Anyone who is struggling with debt can benefit from debt review, regardless of their income level.
3. The process is completely confidential. Your counsellor will not share your information with anyone unless you give them permission to do so.
4. Debt Review is not a quick fix. It takes time and effort to pay off debts, and debt counselling is a process that requires commitment.
5. The process is not free. However your creditors have agreed that your first 2 month repayments go to your Debt Counsellor for administrating the proposal and legal process. Your repayment in month 3 goes to your creditors.
6. Your counsellor will work with your creditors to negotiate lower interest rates and a more manageable payment plan.
7. Applying for debt counselling can help you avoid bankruptcy. By creating a plan to pay off your debts, debt counselling can help you avoid the negative consequences of bankruptcy.
8. Debt Review can improve your credit score. By paying off your debts and managing your finances better, your credit score can improve over time.
9. It can help you develop better financial habits. Your counsellor can teach you how to manage your money better and avoid getting into debt in the future.
10. You don't have to go to court. Your debt counsellor will go to court on your behalf.
11. It can help you avoid scams. Many debt relief scams prey on people who are struggling with debt, but debt counselling can help you avoid these scams.
12. It is not a one-size-fits-all solution. Your counsellor will work with you to create a plan that is tailored to your specific needs and circumstances.
13. Debt Counselling can provide protection of your assets. 
14. It is regulated by the government. Our services are regulated by the government to ensure that we are providing high-quality services.
15. It will help you feel more in control of your finances. By creating a plan to pay off your debts and developing better financial habits, debt counselling can help you feel more confident and in control of your financial situation.

Would you benefit from debt review? 

In Summary: Debt counselling is a service designed to help people struggling with debt. It's not the same as debt consolidation and is suitable for individuals at any income level. The process is confidential and can aid in avoiding bankruptcy and improving credit scores. Counsellors negotiate with creditors for lower interest rates and payment plans, helping clients develop better financial habits. Debt counselling is regulated by the government and provides asset protection. It can also help individuals avoid scams and feel more in control of their finances.

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