1. When deducting living expenditures from your net salary, ending up with less cash left over than installments in your total debt - you may apply for debt counseling.

2. Important living expenses contain rent or housing, college costs, service providers, utilities, meals, transport (petrol or commuting)

3. You should have an earnings, either be an employee or self employed

4. You will need to have cash left more than after paying your crucial expenditures, before debt payments each and every months

5. The largest mistake will be to do absolutely nothing! Don't wait for a rise in salary, go gambling or to win the lottery. Do not avoid your debt and creditors and hope they will just disappear. Don't ignore any calls or letters out of your credit providers; otherwise they may be legally entitled to take legal action against you.

6. Take action the moment you see that your existing income does not meet all your month-to-month costs. Don't wait until you acquire a court summons.

7. Your car and residence cannot be repossessed soon after applying for debt counseling and as quickly as your creditors happen to be informed that you're beneath debt evaluation.

8. Repossession can't be stopped immediately after you might have received a court summons from your creditor, even though you get started to apply for debt assessment following receiving it.

9. You cannot apply for further credit whilst beneath debt review. You also cannot make any purchases together with your shop and credit cards.

10. About 17.53 million South Africans are credit active, utilising 61 million credit accounts, averaging 3.five accounts per credit active consumer. Obtaining 2 credit cards for your name will location you beneath enough financial strain to develop into over-indebted.

Are you currently unable to keep up together with your debt? Is your credit providers hassling you? Afraid you may drop everything? Get help from a debt counsellor to consolidate all your outstanding debt.