If you are worried about debt troubles you are not alone out there. Debt trouble is on the increase and has been for most of 2009. Statistics South Africa keep track of how many people are getting summoned to court over non payment of debt and how many people were then found guilty in court. The numbers are sobering. There has been an increase in both summonses and judgements.
- Summonses up 20.9% over the last year
- Judgements up 15.9% over the last three months
- Contact a debt counsellor now
If you are worried about your debt, perhaps you have skipped a few payments as the pressure mounts, don't feel alone, and know that there are things you can do to take control of your debt troubles. When a company summons you to court over non payment of debt it is generally an action of last resort. The companies just want their money back and understand that more and more people are becoming over indebted and getting into debt trouble due to the economy.
These companies will almost always be amenable to sorting out a restructured payment plan. If you are feeling like it is all too much for you, you can contact a debt counsellor who will be able to help you deal with your debt and negotiate restructured payment plans. Debt counsellors were set up by the National Credit Act to help people who are suffering under over indebtedness. The most important thing is not to pull an ostrich and deal with your debt trouble before it ends in court.