Can You Be Turned Down for Debt Review?

Some people who are stressed about debt worry that they might be turned down when they apply for help.

They feel unsure or even ashamed and wonder if they will be told they do not qualify.

But if you are struggling to pay your monthly debts and your money does not stretch far enough, then you are not alone. In fact, most people who ask for help are doing so for a good reason. The debt review process was designed to help people who are under real financial pressure.

When someone is “over-indebted”, it means that they do not have enough money to cover all their monthly debt payments and still afford their basic living costs like food, electricity, rent or transport. Debt review helps people in this situation by making one affordable payment each month. A debt counsellor can work with your credit providers to reduce interest rates and fees, and stretch out payments over a longer period. This can make your financial situation more manageable.

There are times, however, when a debt counsellor may find that a person is not right for debt review. This can happen if they have enough income to pay all their debts and cover their household expenses. In such cases, debt review might not be the right solution, but that does not mean you will be left with no support. A good debt counsellor will still offer advice and help you explore other options in this situation.

Sometimes, with a realistic budget, small lifestyle changes, and honest advice, it’s possible for a person can get back on track without needing formal debt review. You may also be able to speak directly to credit providers and ask about repayment plans, lower interest rates, or settlement discounts. A debt counsellor can explain how you can do this or they may know about offers currently available from your credit providers.

The goal of debt counselling is to help people take back control. That might mean entering the debt review process or it might mean taking other practical steps with professional support. Either way, you will not be judged or turned away.

In reality, reaching out for some advice is a sign of strength and a smart move when you are feeling overwhelmed by money troubles.

So, if you are unsure, ask. Speak to an NCR registered debt counsellor and get the facts about your options. Whether debt review is the right path or not, you will be better off for knowing what you can do next.