
How to reduce the period of debt review
Over the past 17 years, I have had the pleasure of being able to issue clearance certificates to several clients who have successfully completed the debt review process and made a fresh start. Here’s how they did it.
- They did not skip payments. Remember that the debt review may be terminated by the creditor if you make a short payment or skip a single payment and you will not be allowed to resume with the process – it is a once-off opportunity to restore your financial good-standing,
- When they could afford to do so, they increased their monthly payments. Even a small increase in your month payment can make a huge difference to the length of your debt review,
- When they came into additional money (bonus, inheritance, pension payouts) they made additional payments. While it may be tempting to treat yourself or your family, making an additional payment to reduce the period of your debt review will benefit you in the long run.
Debt review is a smart option for those who wish to regain financial stability. While there are sacrifices to be made, it should also be seen as an investment into a secure future. Not only will you clear your name with your creditors, but the process itself will enable you to better manage your personal finances by teaching you how to budget more effectively and how to spend in a more responsible manner.
To find out more, contact me for an obligation-free consultation.