Thursday, April 23, 2015

When debt counselling does not work. Tearful letter from a woman with no where to turn to.

Hi Eugene,
 
Thank you very much for the attached information.  Where were you 5 years ago in my life?  Let me give you the background with regards to my financial dilemma.
 
About 5 years ago I experienced a rather bad patch in my life.  Before then I had a perfect credit record.  As is often the case, my difficulties were emotionally driven – I was left after a relationship of 11 years with all the credit cards etc. 

So not knowing how to deal with the dilemma (and doing nothing for a while as I had a lot of emotional issues to deal with), I turned to debt counselling. 

Which seemed to be the best answer at that stage.  The debt that I am responsible for are all credit cards, which I still cannot understand how one person could get SO much credit on credit cards with my salary at that stage.  I don't think affordability etc played such a big role back in the day.  The other debt that I had was my car at MFC.  The car I gave back to them just a couple of months into debt counselling.  I currently do not own a house or a car.  I have no fixed assets.  The car I drive is my mother's vehicle.  After 5 years under debt counselling, it seems as if I now owe MORE money than that with which I started.  The debt councillor at no stage had a discussion with me in regards to how much money will be paid and to whom, and by when my debt will be cleared. 
My financial situation is something that I must admit that I have been trying to ignore, as it really scares me.  And the fact that I do not know what the best thing is to do, and have someone trustworthy to assist me, kills me even more.  I have lodged a complaint at the NCR with regards to my debt councillor, and they send me an e-mail saying that they are assessing the situation.  Every time I phone the debt councillor to ask if they can help with the how much was the initial debt, how much was paid over, when will I be finished paying – I get absolutely no response. 

I have moved many times within the last 5 years, and much of my paperwork got lost.  I do not even know which companies I am supposed to pay – where my debt is? 

...End
EUGENE PRINSLOO
Partner
Meecham, Prinsloo & Associates
Personal Debt and Insolvency Practitioners

We are not debt counsellors and we do not offer debt counselling as a solution.

Call/SMS/Whats App 0813166983
Email eugene@meechamprinsloo.co.za
Fax 0867644392

Do you know anyone that struggles with debt? Refer them to us and we will take good care of them.
We are also able to offer you a referal commision, so talk to us and let us know who you know that needs help, just send us their email address and we will do the rest.

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What our clients say

What our clients say...

" you literally saved my life, I was paying more than R8000 per month on debt counselling, now more than 80 % is legally written off and the balance I can pay off at R1700 per month. Thank you, thank you, thank you"
Steven from Durban vgl

"For 3 years I have been under debt counselling and my debt just increased. In 90 days my debt was wiped out and I could make a fresh start. Thank you Eugene"
Louise from Kempton Park

"I had more than R300 000 in debt. Now I have zero"
Thato from Durban

"On debt review by debt kept increasing, now I have a consolidated reduced debt that I can settle in easy monthly installments.
JP Smit Kempton Park

"Ek het my huis en kar verloor en die bank het nog steeds betaling gesoek. Sekwestrasie het dit gestop"
Danie Pretoria