Ronel Talks Money: Debt Review / Counselling with Neil Roets

In this Ronel Talks Money interview we discuss debt review / counselling. Why do people end up having too much debt? When should you seek help when you have too much debt? What would a debt review process entail and what are the costs involved? I talk to Neil Roets, the CEO and founder of Debt Rescue. Debt Rescue is registered with the National Credit Regulator (NCR). Debt Rescue is ranked as the #1 Debt Counselling Company in South Africa and has received multiple awards over the years.

A few of the questions we answer in this interview:

  1. Briefly tell us about Debt Rescue and what you do?
  2. Considering stats, trends that you have seen over the years, how did the debt scenario in South Africa changed from pre-lockdown to post-lockdown?
  3. Why do people end up in too much debt – what are the root causes?
  4. At what stage should a person seek help when it comes to over-indebtedness?
  5. Explain to us in layman’s terms what debt review and debt counselling is all about?
  6. How is debt review different from debt consolidation?
  7. What would a debt review process entail?
  8. What are the pros and cons of a debt review process?
  9. What are the costs involved – fixed fee, percentage of debt etc.?
  10. How would debt review impact on your credit record?
  11. Can being under debt review have a negative impact on your employment or applying for a new position?
  12. If you are retrenched or no longer earning an income and can no longer afford your debt instalments, is debt review the solution or what other options are available?
  13. Are there any consequences after a person has been under debt review?
  14. There are multiple scammers around. How can the public ensure they deal with a legitimate, and reputable debt company?
  15. What tips can you give to the public with regards to effective debt management?

Link to original interview here.

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