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Declined a Cell Phone Contract – a Debt Review Can Help You
20 Jul 15
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Were you recently declined your cell phone contract? The reason may be due to bad debt. If you owe money to a client of XDS then you may not be trusted as a responsible client. It may seem unfair, however if you think of a cell phone contract as a loan (a loan paid out in interest every month) then you can understand why the big Networks like MTN have very strict score cards. A cell phone is a pricey piece of technology and the risk of bad debtors is high. 

So MTN, Cell C and Telkom have come up with their respective credit score cards. These are the score cards that dictate whether or not you pass the service provider’s debt test. Together with income, Blacklist status, work history and living situations the cell phone networks also look into debt. If money is owing to someone else they are likely to not pass you off for a cell phone, even if it is a relatively cheap deal. 

So what can you do about it? Well bad debt isn’t only bad for a cell phone contract, it will haunt you for many reasons. The biggest reasons being that creditors may come after your most valuable possessions; namely your house or your car. So the first thing you need to look into is a debt review. 

Put bluntly a Debt Review is a process in terms of the National Credit Act for over indebted consumers. It is your shield against credit providers who otherwise are legally entitled to claim their loans. 

Phonefinder have partnered with DebtSafe. DebtSafe is South Africa’s favorite debt review company who offer immediate financial relief with a plan for a one reduced monthly installment. They provide protection against legal action (including your assets) as well as a dedicated debt counselor. All this in order to clear your credit record. 

The debt review process is relatively new and was only introduced to South Africa in 2007 (along with the National Credit Act). The debt review process was introduced in order to protect those in debt while they were sincerely trying to climb out. During the debt review process the benefit is that, while you’re getting debt counselling no creditor can enforce legal action on the debtor. The only requirement of course is that the debtor has to be sincere about the process; therefore the debtor must be employed in order to stick to a regular payment plan. 

Are you blacklisted? Then a Debt Review may just be for you.

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