Zandile
“Dear Steve,
I’m in round about R40 000.00 of debt altogether, i only earn nett 6800 p/m. i dont know how to get out of this mess. i’ve got creditors phoning me everday, threats of legal action, summons you name it. pls help me. i really am tired of all this.
Is it not late for help?
Zandile”
The Answer:
Dear Zandile,
I doubt it is too late for some sort of magic solution, but rest assured a solution of some sort does exist for you.
The most important step to take is probably the hardest. That is to face your situation and instead of running from it in fear, to approach it with an enthusiasm to resolve it.
Creditors or debt collectors can be as gruff or nasty as they will be, that doesn’t mean that it changes the reality of the situation. The only things that can happen by you facing this mess with honesty are the exact same things that will happen to you by hiding. In other words, nothing worse.
The National Credit Regulator in South Africa is responsible for the regulation of debt counsellors in South Africa. Their website has a directory of debt counsellors that you can contact for help. Find one and contact them for assistance. There are regulations in place that a debt counsellor can help you with to potentially restructure your debt.
