This past weekend I was having another discussion with a friend around mediation, and what it actually is.

I was surprised that so many people have so many different views on what mediation is, as well as debt counselling.

I’ve said it before and will continue post on this page about this very important tool (negotiation) you can make use of, as it will potentially put you in a positon where you will not need the services of a professional debt counsellor, and save you from the counsltess sleepless nights that financial stress induces.

All mediation is, is you being proactive by simply picking up the phone and timeously informing your credit providers that you will not be able to make this months instalment, either in full or part.

So the proactive part is you knowing how much you’ll be able to afford and be able to pay, if you’re able to do so at all. If you can’t pay anything, inform them and ask them if you could possible skip this month. Tell them why or how you landed in this postion. Whatever the reason, it’s vital that you’re honest with your credit providers.

They will obvioulsy be more understanding if you can at least pay a portion of your mothly instalment, instead of nothing.

Please bare in mind, that although you may be getting a month or two relief, your credit providers are not going to write off that amount that was due. They will most likely work it into the following months instalment, which means you will be paying more the following month.

This is something that can also be taken advantage of, but I guarantee you the consequences will not be in your favor.

So please practice this with caution, and be responsible..

Remember, it’s your credit profile you need to look after and keep healthy..

I’ll be posting a video later in the week on an actual example where I show you guys how I recently implimented this.

Best wishes..

André Misrole