You Magazine journalist claws her way out of crippling debt.
This is her story…
“My financial worries started when my paid-up car was stolen and the insurance paid me only R18,000. I bought a new car and spent almost my entire salary servicing my car loan. I relied on my credit cards to pay for other expenses, including petrol. Because I couldn’t service my debt, more interest piled-up and eventually my debt was out of control. Eventually my total debt amounted to R162,453.
My phone started ringing off the hook as the banks hounded me for money and I was too scared to take any calls. I was terrified the banks would repossess my car or send the sheriff to attach our furniture. The thought of the disgrace and the embarrassment this would cause my children kept me awake at night and I became more and more depressed.
I am so lucky to have opted for Debt Counselling as this prevented my creditors from taking legal action against me and it provided an opportunity to negotiate new terms with my creditors.
If you compare what I pay now R3,084 per month, versus what I was paying R8,900, it would have been impossible to carry on servicing my debt. Today, I can honestly say that undergoing Debt Counselling with DCM Consumer Assist was the best thing that could have happened to me.”
A meaningful reduction in her debt instalment by R5 816 per month. Is debt overhshadowing your life?