Understanding Debt Counselling
For years now, we've heard the term "debt counselling", but what is it? In the grand scheme of things, debt counselling is a service that caters to consumers, who find themselves in a debt-ridden situation and are struggling to pay off monthly expenses.
When you choose to start the process, you enlist the assistance of a third-party advisor, who enters into negotiations on your behalf with creditors, to whom you owe money. A more affordable monthly payment rate is then negotiated, which should give you a chance to breathe and learn to live within your means. As clear-cut as it may sound, there are elements of this process, which you should be fully informed off to recognise how it can benefit you. Read more about this below.