Rid yourself of financial woes

Outstanding debt is easier to sweep under the carpet than to deal with. Initially, you might find some solace in pretending, however, as time progresses, that bulge under the carpet will eventually become stress bulges that run down your neck and keep you up at night. Eventually the sound of a phone ringing will bring about anxiety, as it could possibly be one of your creditors following up or threatening to take legal action against you. That’s not even the worst of it all. The worst phase to enter is the one where you simply lose hope.

“Hope is like the sun, which, as we journey toward it, casts the shadow of our burden behind us.” Samuel Smiles

If you are having serious trouble repaying your debts and if you are ready to embark on the road to financial freedom, we at Legal Hero have the perfect solution: debt review. We do not offer this service personally, but have truly been inspired by Karin Augustyn from Cape Debt Clinic and her team to whom we refer all our financially distressed enquiries. Karin and her team’s compassion is beyond anything we have ever experienced in the overpopulated debt review industry. *

Debt review vs being placed under administration?

Debt review is often preferred to being placed under administration. Why?

Debt review offers greater consumer protection as the fees to the debt counsellor are strictly regulated by the National Credit Regulator. A debt counsellor will assess your state of indebtedness, offer sound financial advice and facilitate a debt rearrangement with your creditors. Should your creditors not agree to the debt rearrangement one may apply to court for an order confirming same. The debt counsellor will then manage all your payments from a central distribution agency on a monthly basis on your behalf.

Administration is more expensive and the fees to the administrator managing the payments are higher. A court order is required and the debt may not total more than R50 000. There have been many reports of irregularities in that the fees to the administrator are not properly regulated and there is no central distribution agency involved. In most cases the distributions to credit providers only occur every three months and are handled by the administrators themselves.

How long does debt review take?

Nothing is a short-term fix. You will need to commit. The goal is to get you debt-free within a period of 3-5 years. Depending on your circumstances, this could happen much sooner. For a detailed timeline elaborating on what happens from day 1 – the day of your financial freedom, visit this link:

http://www.capedebtclinic.co.za/Debt_Review_timeline.html

Visit this link for answers to other frequently asked questions regarding debt review:

http://www.capedebtclinic.co.za/Debt_Review_FAQ.html

Contact Cape Debt Clinic (not limited to the Western Cape) on 021 828 2658 for a free first consultation to assess your needs.



* Please note that Legal Hero does not receive commission/ referral fees for referrals to Cape Debt Clinic.

Legal Hero Cup Soccer Tournament

The Legal Hero Cup Soccer Tournament took place last week Saturday at Sun City Prison. We are excited to share some photos with you! 

First match: Centre B vs Centre C. 

Second match: Centre A vs Corporate Corrections. 

The final saw Centre A vs Centre B battle it out. After a nerve-racking match, we are proud to announce that Centre B, Medium B took home the Legal Hero Cup. 

In the photo below from left to right: National Business Executive Mr. Chris Madonda from Legal Hero, Special Organizing Manager Mr. Langa, Mr. Manamela from Medium B and Mr. Mnambo from Medium B. Special thanks to Deputy Director and Staff Support Coordinator Mr. Mogomotsi.

Sport unites. Times in South Africa are tough. The true heroes are those who brave on, smile and work actively towards a brighter future, together.