At Debtline, we’ll assist you in getting a handle on your finances, and thereafter will suggest other financial services to help you maintain your financial freedom in the future.
What is the Credit Monitoring process?
- Debtline uses a number of partnered credit bureaus in South Africa to draft an aggregated credit report which enables you to get an accurate view of your financial situation
- Our team of financial analysts use that report, as well as information provided by you, to help you get a handle on your finances – whether it be budgeting, cancelling debit orders and reassessing the associated expenses, reassessing your insurance products or something as simple as helping you get your credit card balance back down to zero – there are multitudes of techniques available and our team is here to show you how to make them work for you
This is why credit monitoring is helpful:
Credit monitoring ensures you remain informed of the financial services and processes available to you; which will help you maintain your financial stability.
Over 60% of credit-active South Africans are debt-stressed or already over-indebted and the reason for this is due to a number of factors:
- Lack of financial education – this is a big problem in South Africa as people are unaware of the importance of a good long-term financial plan or the consequences of mounting debt.
- Lack of proper information regarding your rights as a consumer
- Unscrupulous lending by aggressive and/or illegal credit houses (most loan agents are incentivised on commission – this means the more loans they sell, the higher they earn)
- A perceived lack of alternatives – don’t let the weight of your debt get you down. There are many other options to help better your financial situation out there – let us at Debtline help you, it is NEVER too late to improve your situation.