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Sometimes consumers are faced with debts so insurmountable that they do not know where to turn for help, and it is in times like these that a consumer could use a friendly, calm and expert voice to help them through to crisis and provide debt advice.
A debt management helpline exists to provide that service to consumers – by training staff who are knowledgeable about debt counselling, debt review, financial debt management and debt advice, a debt management helpline can provide consumers the means to make it through a tough financial time.
A debt management helpline can provide consumers with the following:
- Information on debt counselling including the benefits, the expected time period and a step by step walkthrough of the process.
- Help with budgeting and advice on how to make a budget stretch to the end of the month. This advice includes advising the consumer against more bad debts, and recommending debt counselling if it sounds as though the consumer needs it.
- Information on other debt management remedies such as debt consolidation and sequestration. If consumers have questions and are considering these methods, it is advisable that they speak to someone at a debt management helpline.
- Advice on how to deal with debt collectors and creditors notices. Including information regarding the rights of the consumer, and where to report unethical debt collection practices.
- Advice on where to obtain credit scores, as well as advice on how to make sure that accounts that have been settled in full are fully closed and are not active due to hidden membership fees.
Consumers in need of expert advice on their debts should consider contacting a debt management helpline.
Article written by: Andrea van Tonder 06-2013