FAQ'S
We can help reduce all of your
monthly instalments by up to 60%
Immediate legal protection from all
of your current creditors.
All of your debts reduced into one
affordable monthly instalment.
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ABOUT US
FREQUENTLY ASKED QUESTIONS
We’re here to answer all your burning questions. Whether you’re curious about our services, how
our debt relief process works, or just need some solid financial advice, you’re in the right place.
What is Debt Review / Debt Counselling?
Debt review is the process whereby a debt counsellor assesses your outstanding debts, speaks to your credit providers on your behalf and assists you in establishing an affordable monthly payment plan that covers both living and debt expenses. Debt Counselling was formally introduced by the National Credit Act to help over-indebted consumers, especially in the current economic crisis. The goal of Debt Review & Counselling is to put a repayment plan in place, which is affordable, as well as acceptable to all your credit providers. This process is here to help you, so why not make use of it and get on the path to becoming debt free?
Do I really need Debt Counselling?
The mere fact that you are reading this means that you will most probably benefit from our Debt Review process and that you are in a financial situation that is causing you worry. The earlier you come to us, the easier it will be to for us to find the best solution for you. You can only benefit from contacting us.
How long after signing up will it take for me to get debt relief?
You will immediately experience the relief that Debt Review offers. Within the first 5-7 days, we will work out a provisional repayment plan for you that you’ll be able to comfortably afford. In terms of the repayment plan, you will make a single payment to a Payment Distribution Agency, who will distribute the money according to your plan. During the first 60 working days, your Credit Providers will not be allowed to take legal action against you. During this time, we will prepare your final repayment plan.
How can I afford the fees when I already have cash problems and am in debt?
Can you cover all my debts like loans, debt or credit card finance for instance?
What happens if I miss my monthly repayments?
If you miss a monthly repayment while you are under debt review, your credit providers will terminate the process and start legal proceedings against you, which will include judgments and garnishee orders. If you are struggling to make your monthly repayments, contact your debt counsellor immediately, so they can advise the credit providers of your situation and work out a more affordable debt repayment plan.
How long will I need remain on Debt Review?
It is different for everybody, as every individual’s situation is unique. In order to lower your monthly instalments, we have to extend your repayment term. In some cases, we may manage to convince Credit Providers to also lower your interest rates, which means that your repayment period will not be extended too far into the future.
Your debt repayment plan will indicate exactly when your last day of payment will be. If you, however, manage to get a substantial salary raise or inherit a lump sum of money, for instance, and you are in a position to pay off all your debts at once or make a better payment arrangement with your Credit Providers, you can contact us and we will end your Debt Review on your instruction, and inform the Credit Bureaus to remove the Debt Review flag next to your name.
What happens if my credit providers do not accept the terms proposed to them?
If your credit providers do not accept the terms we propose to them in your new repayment plan, we will revise the terms and attempt to renegotiate with them, until we reach a compromise. However, if they are unreasonable, we will be able to take the payment plan to court and request that it be declared as an order, as enforced by the National Credit Act. This, however, rarely happens as the credit providers want you to pay of the debt so they will agree to any plan whereby they can achieve this.
Your debt repayment plan will indicate exactly when your last day of payment will be. If you, however, manage to get a substantial salary raise or inherit a lump sum of money, for instance, and you are in a position to pay off all your debts at once or make a better payment arrangement with your Credit Providers, you can contact us and we will end your Debt Review on your instruction, and inform the Credit Bureaus to remove the Debt Review flag next to your name.
What are the costs involved?
Our fees are regulated by the National Credit Regulator and are very reasonable, as our aim is to get you out of debt. The fees will be explained to you in detail, once you contact us. The important thing to remember here is that our fees and disbursements are included in your affordable debt repayment plan, and we will always make sure that you are able to afford you living expenses as well as your monthly instalments.
Your debt repayment plan will indicate exactly when your last day of payment will be. If you, however, manage to get a substantial salary raise or inherit a lump sum of money, for instance, and you are in a position to pay off all your debts at once or make a better payment arrangement with your Credit Providers, you can contact us and we will end your Debt Review on your instruction, and inform the Credit Bureaus to remove the Debt Review flag next to your name.
I have heard some negative rumours about Debt Counselling, does this process really work?
Your debt repayment plan will indicate exactly when your last day of payment will be. If you, however, manage to get a substantial salary raise or inherit a lump sum of money, for instance, and you are in a position to pay off all your debts at once or make a better payment arrangement with your Credit Providers, you can contact us and we will end your Debt Review on your instruction, and inform the Credit Bureaus to remove the Debt Review flag next to your name.
