Ignoring your debt might feel like a temporary relief, but the longer you wait, the worse it gets. In this article, we explain exactly what happens when you do nothing about your debt, and share practical steps you can take today to get back on track.

Consequences of ignoring your debt

If you’ve ever avoided checking your account balance or skipped a payment, hoping for “next month” to be better – you’re not alone. But doing nothing comes with real consequences:

• • Interest and Fees Keep Growing: 
    Your outstanding balance doesn’t stay still. Over time, interest, late fees, and penalties keep adding up, sometimes doubling the amount you owe.

• • Your Credit Score Takes a Hit: 
    Missed payments are reported to credit bureaus and will lower your credit score. This can make it harder (and more expensive) to get credit in future.

• • Debt Collectors Get Involved: 
    After a few months of non-payment, your account may be handed over or sold to a debt collector. This means more pressure and often extra collection fees.

• • You Could Be Taken to Court: 
    If the debt goes unresolved, you may face legal action. This could result in a judgment against you, salary garnishment, or the repossession of your assets.

What You Can Do Instead

The good news? You don’t need to solve everything in one go. Start small:

• • Check your Splendi profile to see which accounts need attention.

• • List and prioritise your debts by urgency or interest rate.

• • Contact your creditors to ask for payment arrangements or settlement offers.

• • Start a mini emergency fund, even if it’s just R100 a month.

• • Look into debt consolidation offers if you qualify.

Tip: The hardest part is starting, but once you do, you’ll feel more in control. Your financial situation doesn’t define you. Every small step counts.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Splendi does not provide personalised financial, investment, legal, or tax advice. Always consult with a qualified financial advisor for guidance tailored to your individual circumstances.