What we will do for you:
Protect you from your creditors
Immediate protection against legal action and blacklisting
We create space for immediate financial relief
NO up-front payments
We negotiate reasonable pay-off plan with all your creditors on your behalf
No more harassing phone calls, or SMS’s
Avoid judgements and being blacklisted for debt
Drastically reduce interest rates and your monthly debt repayments
Debt review does NOT mean:
That you can never take out a loan again
That your employer will know about it
That your landlord will know about it
That you have to be in arrears with your accounts
That you will lose your car / house
That you will take longer to settle debt
That you can only pay the minimum
That you can skip payments
That you have to go to court
That you have an easy way out
That a consumer will get blacklisted
- You have to find a registered debt counsellor. If you already have a debt counsellor, and you just want to check whether he / she is registered, go to www.ncr.org.za, the website of the National Credit Regulator.
- The debt counsellor will ask for your payslip, a copy of your RSA ID, a list of all the accounts that you currently have, and your monthly household expenses.
- The debt counsellor will then calculate and work out how much he or she can reduce your monthly payments. If you can afford to contribute more, we definitely encourage you to pay the bigger installment as this can possibly help you settle your accounts within months (depending on your total outstanding debt).
- The debt counsellor is entitled to ask you for an application fee at this stage. We DO NOT charge an upfront application fee, a rejection fee, or a withdrawal fee, although we are entitled to do so by law.
- The debt counsellor will then contact your credit providers, and get the correct account information from them, and also notify them that they cannot continue with legal action against you or blacklist you (unless they have already started with legal action on a specific account, in which case that specific account can either be excluded, or we can kindly ask them to include the account to stop the legal process).
- Thereafter the debt counsellor will send out the proposal, containing the reduced instalments and interest rates, to all the credit providers.
- Once agreement has been reached, your debt counsellor will give you your final payment documents with all the necessary information about the payment plan on it.
- Your only obligation is to keep up with your monthly payments.
- All your creditors will receive their monthly payments according to the plan that is specifically worked out for you. If you win the lotto, get a bonus or receive an inheritance, you are also more than welcome to make lump sum payments to settle the accounts quicker.
- Afterwards you will receive a Clearance Certificate, ensuring that any trace of the debt rearrangement will be removed from your credit report. This will also be sent to the Credit Bureaus in South Africa to ensure removal of any bad payments, giving you a clear and new credit report again.