Categories: DebtNewsReviews

Debt Solutions 4U Review 2021

Published by
Lethabo Ntsoane

Debt Solutions 4U is a debt management company that provides debt solutions to individuals in South Africa. The company aims to reduce installments that the over-indebted South Africans pay to creditors. In doing so, the company has been able to liberate many South Africans financially by allowing them to have more money to spend on their family. 

Debt Solutions 4U has a cutting-edge debt calculation tool that is able to predict how much one can save. With the calculator, one can estimate how much they can save when using Debt Solutions 4 U’s debt counseling services. 

It is easy to get started with any service that Debt Solutions 4 U offers. With the use of the company’s website, one can make contact with the services provider through Whatsapp, live chat, or a direct call. An option to request a call back is also available. 

Debt Solutions 4U Summary

Debt Solutions 4 U is a debt solutions provider that offers clients the opportunity to reduce their current debt by 60%. The company is headquartered at 93 Regency Drive, Route 21, Corporate Park, Centurion, 0157, South Africa. It has a fairly good social media presence with over 1 590 followers on Facebook. 

Debt Solutions 4 U has an accredited group of counselors that are there to assist customers with their debt issues. The aim of the company is to help South Africans at large to become debt-free. Counselors that work with or for Debt Solutions 4U are accredited by the National Credit Regulator. 

Those that are over-indebted are most to benefit from Debt Solutions 4U’s services and the company prioritizes its debt review product. The Debt review solution has support tools such as the debt calculator which can be used to determine how much money can be saved by choosing Debt Solutions 4U. 

Debt Review Process

Reviewing debt can be necessary at times to make sure one is able to repay debt at any point in time. Debt Solutions 4 U offers a debt review solution that helps customers to become debt-free. This product is available to those that are struggling with making their monthly installments to creditors and feel that they are over-indebted. 

Debt Solutions 4 U’s debt review process helps restructure debt plans. The debt review process involves 6 steps that lead customers to be debt-free and have an increased credit score. Furthermore, customers get to have protection from Debt Solutions 4 U attorneys.  Harassment from creditors stops immediately after using the company’s debt assessment service and agreeing to go through with the debt rescue procedure. 

Debt Solutions 4 U has 6 steps to financial freedom through the company’s debt review process. The steps are discussed below. 

Step 1: Debt Assessment

Debt Solutions 4 U offers customers a debt assessment that comes for free. Debt assessment is there to assess customers on whether or not they qualify for debt counseling. Personal information required from the customers to carry out the assessment is protected by the company as per the POPI Act. 

Debt Assessment comes with no obligation to the customer. If a customer doesn’t feel like using the services of Debt Solutions 4 U he/she may voluntarily opt out of the debt review process and not progress to the next step. 

Step 2: Application

After knowing that you qualify to go through with the debt review process, the next step is to start a new application with Debt Solutions 4 U. Application forms can be found on the Debt Solutions 4U website and they come at no fee. 

Information on your credit history will be required to complete this step. Information such as details of your credit providers and your financial status will also be needed before proceeding with the filing. 

Step 3: Application Review

The application will be put under review to check if it qualifies for debt counseling. This is a legal requirement for debt counseling and the step cannot be skipped. By doing this, the company protects those that do not qualify for debt counseling service from going through the whole debt review process. 

Step 4: Notification to creditors

Debt Solutions 4U will now notify creditors that their customer is under a debt review. The customer will get protection from Debt solutions 4 U’s debt counselors. What the customer will do from now on is to track their credit record and make payment where applicable. However, payments can only be made after step 5 is finalized. 

Notification of creditors that a customer is under debt review means that the customer will no longer get calls from creditors. Creditors will only be dealt with by Debt solutions 4U debt counselors. 

Step 5. Negotiation With Creditors

Debt Solutions 4U debt counselors will start to negotiate with creditors. This will be done to establish the customer’s new repayment plan. The repayment plan will in detail describe the new terms of engagement including amounts to be repaid, the due date of installments, etc. 

Debt Solutions 4U debt counselors will negotiate for lower interest rates on loans. Furthermore, debt counselors will ensure that their customer gets to repay monthly installments they can afford. This approach will allow the customer to have more disposable income. 

Step 6: Court Order Application and Repayment

Debt Solutions 4 U’s attorneys will make the negotiated repayment plan negotiated a court order. The repayment plan will be binding and repayments will now commence. Repayment will have to be made until the debt is finished. Money that the customer deposits will be paid to a payment distribution agency which the payment distribution agency will make payments to the creditors accordingly. 

A clearance certificate will be issued as soon as the debt gets settled. The clearance certificate will be sent to the customer and the credit bureaus. Credit bureaus will then have to make necessary adjustments to the customer’s credit profile. 

Competitive Advantages of Debt Solutions 4U

  • The company adheres to the requirements of the national credit regular (NCR) for debt counselling.
  • The debt review process is straight foward.
  • Debt solutions 4U holds favourable reviews on loansfind.co.za and moneyloans.co.za with 4.4/5 and 4.8/5 ratings respectively.
  • The company promises to reduce the current debt of over-indebted individuals that subscribe to their debt counselling solution by up to 60%.

Competitive Disadvantages of Debt Solutions 4U

  • There are no insurance services for the over-indebted.
  • Products are not diverse when compared to other debt management companies in South Africa.

Conclusion

Debt Solutions 4 U is a company that offers a debt review product that adheres to the requirements of the National Credit Regulator. The debt review process offered by the company is on par and can be trusted. The company still has a long way to go when it comes to offering debt solutions. More products will need to be added by the company like other companies such as the National Debt Advisors as employees solutions and insurance solutions play a big role in debt management company’s revenue nowadays.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at lethabo@rateweb.co.za

Published by
Lethabo Ntsoane