Having a credit facility (such as a loan, clothing or cellphone account) is an inevitable part of life for most Namibians. Maintaining and managing that credit – or debt – is an important part of financial health.
Yet few Namibians recognise that the power to manage their credit lies in their own hands. The concerning fact is that of the 1 million credit active people in the country, less than 1.6% have requested their credit report from the credit bureaus.
As a result, 98.4% of consumers may only get confirmation about the state of the credit health, and become aware of how good – or bad – their credit management is, when they apply for credit. A credit report reflects each consumer’s credit behaviour and impacts his or her power to get loans and credit. It is a summary of your past and current credit obligations, and how well you have managed these debts.
Ignoring letters of demand from angry creditors, juggling your finances so that you only pay the outstanding amount on the most pressing accounts and even worse, borrowing more money from microlenders to pay existing debt or maxing out one credit card to pay another, may only deepen your financial crisis.
Instead contact DebtVision so that we can help you manage and reduce your debt so that you can enjoy better cash flow and work towards a debt free life.