Can Debt Review Help?

Debt review can help if you are struggling to repay your debts and are facing the risk of legal action from your creditors. It is a process that is designed to assist over-indebted consumers by providing them with a more manageable repayment plan for their debts.

Debt review is a solution for those who are struggling with debt and want to avoid the negative consequences of defaulting on their loans, such as wage garnishments, legal action and a damaged credit record. The debt review process involves a thorough examination of your financial situation, including your income, expenses, and debts. Based on this information a debt counsellor will create a new, more manageable repayment plan for you which is then presented to your creditors for approval.

Once your creditors have agreed to the new repayment plan, you will be required to make only one reduced monthly payment, which will be used to pay off your debts over an extended period of time. During the debt review process, you will be protected from legal action by your creditors and your wages will not be garnished.

In summary, debt review can help if you are struggling with debt and are facing legal action or wage garnishments from your creditors. By working with a debt counsellor you can create a more manageable repayment plan and regain control of your finances.

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