Debt Counselling is when a over indebt individual goes to a debt counsellor to apply for debt counselling for protection from creditors and apply for lower monthly payments. With the help of a debt counsellor the over indebt individual can apply for lower monthly payments at creditor. The customer’s monthly expenses must exceed his income to qualify for debt counselling.

Debt consolidation is when an individual will take

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A consumer that is over indebt can apply for debt counselling with a debt counsellor. The consumer will apply for debt counselling, because his income is not enough to make the full installment on his debt each month.

The debt counsellor will assist the over indebted customer in the application process by negotiating a new affordable monthly payment plan for the customer. The debt counsellor will notify all creditors that the customer is applying for debt counselling first of all. Secondly the debt counselor will notify the National Credit Regulator that

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In boom times it is easy to find new loans and easy to service them because your house keeps going up in value and you could do a consolidation loan on your mortgage in no time to help you with your repayments.

Your living standards increased, because your cash flow increased. So with

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