Debt Expert - Luke Hirst

question

Posted by: BT | 2013-05-23 10:09

DEBT REVIEW - BALANCES AND INTEREST.

When under debt review, why does the interest stay so high? Why do you hardly see any difference in the outstanding balances?

expert answer

Posted by: Luke Hirst | 2013-05-28 11:12

As per the National Credit Act, a credit provider does not have to reduce the interest rate. However, a debt counsellor should use the industry rules and their relationships with the creditors to negotiate the instalment, terms, fees and interest rate so that the client can become debt free in a short period of time. The vast majority of our clients come out of debt counselling in less than 5 years, whereas without debt counselling they would be in debt for a considerably longer period of time. 

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user comments

Posted by: rh | 2013-06-15 04:00
my best friend's step-aunt makes $75 every hour on the computer. She has been fired from work for 5 months but last month her pay was $12815 just working on the computer for a few hours. Read more here... www.buzz90.c­om
Reply to rh
Posted by: rana | 2013-06-15 04:00
my best friend's step-aunt makes $75 every hour on the computer. She has been fired from work for 5 months but last month her pay was $12815 just working on the computer for a few hours. Read more here... www.buzz90.c­om
Reply to rana

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