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Debt Solutions 4U Review 2022

Debt Solutions 4U is a debt management company that provides debt solutions to individuals in South Africa. The company aims to reduce instalments 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 when using Debt Solutions 4 U’s debt counselling services. 

It is easy to get started with any service that Debt Solutions 4U offers. With the use of the company’s website, one can make contact with the serviceprovider 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 counsellors 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. Counsellors 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 instalments to creditors and feel that they are over-indebted. 

Debt Solutions 4 U’s debt review process helps in debt restructuring. The debt review process consists of six steps that lead to customers being debt-free and having a higher credit score. Customers will also be protected by Debt Solutions 4 U attorneys. Creditor harassment ceases immediately after using the company’s debt assessment service and agreeing to proceed 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 provides customers with a free debt assessment. Debt assessment is used to determine whether or not a customer qualifies for debt counseling. The company protects personal information obtained from customers in order to conduct the assessment in accordance with 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 determining your eligibility for the debt review process, the next step is to begin a new application with Debt Solutions 4 U. Application forms are available for free on the Debt Solutions 4U website.

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 counselling. This is a legal requirement for debt counselling and the step cannot be skipped. By doing this, the company protects those that do not qualify for debt counselling services 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. Debt counselors from Debt Solutions 4 U will protect the customer. The customer will now keep track of their credit history and make payments as needed. Payments, however, can be made only after step 5 is completed.

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 counsellors. 

Step 5. Negotiation With Creditors 

Debt counsellors from Debt Solutions 4U will begin negotiating with creditors. This will be done in order to set up the customer’s new repayment plan. The repayment plan will describe the new terms of engagement in detail, including the amounts to be repaid, the due date of installments, and so on.

Debt Solutions 4U debt counsellors will negotiate for lower interest rates on loans. Furthermore, they will ensure that their customer gets to repay monthly instalments 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 a court order. The repayment plan will now become legally binding, and payments will begin. Repayment will be required until the debt is paid off completely. Money deposited by customers will be paid to a payment distribution agency, which will make payments to creditors as needed.

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 Regulator (NCR) for debt counselling.
  • The debt review process is straight forward.
  • Debt solutions 4U holds favourable reviews on loansfind.co.za and moneyloans.co.za with 4.45 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. However, 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 [email protected]

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