What Debt review can do for you that no other plan can

At Premier Debt we see the asset protection debt review offers as the best benefit of debt review. Therefore, we call it our asset protection plan. To qualify for a bond is a difficult process that requires a good credit record. If a person has fallen on tough times, it will be virtually impossible to qualify for a bond again with bad debt. That is why we aim to rather protect the assets than give them up. We strive to help client’s keep their homes and pay off their bonds, rather than become tenants and pay someone else’s bond. You rather use your money to pay off your own asset which can benefit you far greater than getting out of debt fast.

Debt review is a legal tool that South Africans have available to use to get out of debt. It was established in 2007 when the national credit act was implemented. Prior to 2007, creditors had “free reign” over the amount of credit they would lend. It was a time when credit cards and store accounts arrived in the mail. All you had to do was activate the credit and you could use it. People were spending more than sixty percent of their salary on debt, making debt spiral out of control.This resulted in government having to intervene to keep creditors in check and reduce the debt in the country. The law of only allocating one third of your salary to debt was introduced. This regulated creditors to ensure that they may only approve your loan if you were not over exposed with credit.

With all the amount of bad debt in the country, South Africa needed a new tool to help overindebted consumers. People were at risk of losing their homes and vehicles due to unsecured debt getting out of control. Debt review was the answer to help asset owners protect their assets from bad debt. It was the first and still is the only debt consolidation program that includes assets and lets you keep them. People can reduce their loans, credit cards and store cards by up to 50%. They can also reduce their bond and vehicle payments by up to 25%. This provides far greater immediate cash relief for over-indebted families. It also enables families to keep their property so they can leave it as a legacy for future generations. Property ownership is the key to uplifting people and that is why property ownership must be protected.

Debt review is best suited for clients that own property and want to get out of debt, but not lose their home. It’s designed for people who understand the importance of saving their assets. They see the benefit of getting rid of a bad credit record and working through the program for the best reward of being debt free.

Click on the button below to read up more about our asset protection plan.