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Debt Counselling Process

ETM Debt Management > Debt Counselling Process

A Holistic Approach to Debt Counselling

Debt counselling is a structured process designed to help over-indebted consumers manage their debts responsibly. At ETM Debt Management Services, our goal is to provide you with a clear, manageable path to financial freedom

Step-by-Step Process:

    • Step 1: Free Consultation:
      • Initial Meeting:
        • “Our process begins with a no-obligation free consultation where we discuss your current financial situation, understand your challenges, and explain how debt counselling can help.”
      • What to Expect:
        • “You will meet with one of our NCR-registered debt counsellors who will guide you through the process and answer any questions you may have.”
      •  “Book Your Free Consultation”

Step 2: Financial Assessment:

    • Detailed Analysis:
      • “We conduct a thorough assessment of your financial situation, including your income, expenses, and outstanding debts.”
    • Budget Planning:
      • “Our counsellors will help you create a realistic budget that aligns with your financial capabilities and goals.”
    • Documentation:
      • “You will need to provide documentation such as payslips, bank statements, and debt statements to facilitate an accurate assessment.”

Step 3: Developing a Repayment Plan:

    • Customized Plan:
      • “Based on the assessment, we develop a personalized debt repayment plan that suits your financial situation and aims to reduce your monthly payments to a manageable level.”
    • Proposal to Creditors:
      • “We prepare a proposal for your creditors outlining the repayment plan and negotiate terms to ensure acceptance and cooperation.”
    • Court Approval:
      • “The repayment plan is submitted to the court for approval, ensuring that it is legally binding and protects you from legal action by creditors.

Step 4: Implementation and Monitoring:

    • Payment Distribution Agency (PDA):
      • “Once the repayment plan is approved, we work with a Payment Distribution Agency (PDA) to manage the collection and distribution of your payments to creditors.”
    • Monthly Payments:
      • “You make a single monthly payment to the PDA, which then distributes the funds according to the repayment plan.”
    • Monitoring and Support:
      • “We continuously monitor your progress and provide ongoing support to ensure you stay on track with your payments and financial goals.”

Benefits of Debt Counselling:

    • Legal Protection:
      • “Once under debt review, you are protected from legal action by creditors, giving you peace of mind and stability.”
    • Reduced Payments:
      • “Our negotiation process often results in reduced interest rates and extended repayment terms, lowering your monthly payments.”
    • Asset Protection:
      • “We work to protect your essential assets, such as your home and car, from repossession.”
    • Financial Rehabilitation:
      • “Our ultimate goal is to rehabilitate your financial situation, allowing you to regain control and eventually re-enter the credit market.”

When to Consider Debt Counselling:

    • Signs You Need Help:
      • “If you are struggling to make your monthly debt payments, taking new loans to pay off existing debts, or being harassed by creditors, it’s time to consider debt counselling.”
    • Eligibility:
      • “Debt counselling is suitable for individuals who have a regular income but are unable to meet their debt obligations due to over-indebtedness.”
  • Contact Us:
    • Get Started:
      • “If you’re ready to take the first step towards financial freedom, contact us today to schedule your free consultation.”