Debt management is an important skill for nearly everyone.
Understanding your options for managing debt will help you stay in control of
You may not be not managing credit wisely if y ou are unable
to pay your credit card and store card balances every month; your credit cards
are maxed out so there is no cushion to cover emergency expenses; you buy
everyday necessities like groceries on credit and you borrow money to pay your
What is the role of a debt counselor?
A debt counselor helps over-indebted consumers to restructure their debt. If you are unable to service the monthly repayments on your credit agreements, you can request the assistance of a debt counselor to restructure your monthly repayments with ...
What is default information?
Default data is negative information supplied to TransUnion by the store or bank if you default on your credit agreement with them, that is, if you fail to pay your account. A default remains on your credit report for 1 year, depending on the ...
What is a judgment?
A judgment is granted by the court against a consumer who has not paid their debts to a credit/service provider. A judgment is public information and remains on your credit report for 5 years or until the judgment is rescinded by a court or paid in ...
What is rehabilitation?
The insolvency of a party comes to an end when the insolvent is rehabilitated. Rehabilitation enables a person who has been sequestrated to make a fresh start, free from pre-sequestration debts and from the restrictions placed on the insolvent by the ...