Debt Counselling is… •a process for the restructuring of your debt into one easy payment. •a way to improve your credit score and clear your credit record. •a plan to increase the amount you have for day-to-day living expenses. •a solution to get you out of debt faster. •a strategy to protect your assets such as cars and houses. •a return to complete financial wellness. Debt Counselling is a consensual restructured repayment plan which serves as a debt help mechanism for the consumer. It provides debt solutions for the consumer’s current debt commitments. It is also sometimes referred to as Debt Review, or a Debt Relief plan and is intended to free up enough discretionary income i to allow the consumer to return to a sustainable lifestyle and, at the same time, get out of debt and settle all accounts in full within a reasonable period. It will protect the consumer’s assets and, if completed, should improve the credit score by not only clearing up the consumer’s repayment history, but also increasing discretionary income. This will,of course, make the consumer more creditworthy, in turn giving him/her a stronger bargaining tool for future financial requirements. Once the consumer has spoken to an associate, and after they have completed the consumer’s first free assessment, they will have a clear picture of how much the consumer needs to pay each month, and how long repayments will need to be made in order to get the consumer out of debt. The debt advice and first consultation are free and are designed to bring debt relief by reducing the very next creditor payments. Many financial planners will acknowledge that the mere consolidation of debt only prolongs the time it takes to get out of debt. One of the main factors influencing people to opt for Debt counseling is that Debt Counselling has the ability to lower interest rates, thereby providing very real debt relief. One can so clearly see the negative effect of compound interest when one multiplies the monthly installment by the number of months in the total payment period. . It is frightening to see how often Consolidation loans double the total amount that has to be repaid. This merely keeps people in debt for a longer period. Typically the best debt solutions require a good repayment plan which makes more money available as a capital sum, with less being lost to interest and fees. If one looks at any longer term loan statement one is often forced into i the harsh realization that more than half of each month’s payment goes towards interest and fees. Clearly the answer to paying off debt faster lies in a well-structured Debt help plan.