To best prepare yourself for debt review, you should collect the following information before reaching out to a debt counsellor:
- Your ID or Passport: Your debt counsellor will need your ID or passport number, as well as a copy of the document itself, to prove your identity.
- Proof of Income: Debt review is tailored to your specific circumstances. For that reason, your debt counsellor will need your latest payslip or proof of income.
- A List of Your Debts: Your debt counsellor will want to draw up a detailed listing of all your debts, including credit cards, loans, store cards, and any other financial commitments. It's essential for your debt counsellor to have the full picture of your obligations, so they can recommend a realistic repayment plan. Your debt counsellor will ask for recent statements of your repayments.
- A List of Your Monthly Expenses: Your debt counsellor will need a breakdown of your monthly expenses, from groceries to utilities, to create a realistic repayment plan.
- Details of Your Creditors: Your debt counsellor will need to know who you owe money. It's essential that you provide the information your debt counsellor requests, e.g. contact details for your creditors and account numbers.