Frequently Asked Questions
These are answers to some of the questions we get asked frequently by clients and potential clients. If you have a question that is not listed below please feel free to send us a email with your question by clicking the button below.
Debt counselling is a rehabilitation process. It’s a process by which we assist by clearing your debt. Due to this period where by you are trying to fix your debt, you unfortunately will not be able to use your credit facilities. However with the additional money you saved from paying a reduced instalment to your credit providers you will be able to pay cash for goods instead of on credit.
Unfortunately, you will not be able to apply for credit once you are under debt review. However once you have paid up all your debt and we issue you with a debt clearance certificate, you will be able to apply for credit again.
The debt review is a monthly obligation whereby you are required to make payments on time, every month. If you do not earn an income you will not be able to apply or undergo the process.
A judgment is an order of the court and super seeds any other agreement. We will not be able to assist you with an account where judgment has been obtained, however, our expert debt counselors will provide you with the best advice on how to handle this account. Any other accounts you have we will be able to assist you with but the account with the judgment will have to be excluded from the process.
Due to the debt review being a legal process in order to cancel your application you will need to make an application to the court to have your debt review rescinded.
Whats the process? Its a simple 5 step process
You complete an application form and provide us with the details of all your Credit Providers. (Consultations are usually done telephonically and by e-mail, but can also be done in person.)
We determine whether you are over-indebted, in other words, does your monthly expenses exceed your monthly income.
If you are over-indebted, we will inform all your Credit Providers and the Credit Bureaus that you have been assessed and have applied for Debt Review. Your Credit Providers will also be requested to provide us with a Certificate of Balance (COB) with respect to your accounts.
(You will immediately start to pay a single provisional reduced monthly installment in respect of all your Credit Providers which will be affordable to you. During the first 60 working days, legal action may not be taken against you in respect of the debts that are under review.)
After receiving all the COB’s, we will restructure your payment plan and negotiate with your Credit Providers where necessary. After negotiations with your Credit Providers, your new restructured payment plan will be sent to all your Credit Providers and this payment plan will take effect.
(Your restructured payment plan will reduce your monthly debt repayments to an affordable amount, leaving you with sufficient money for your living expenses.)
We will instruct our specialized field of attorneys to apply at court on your behalf in order to make your restructured payment plan a court order. You will not have to appear in court yourself, as your Debt Counsellor will be the applicant in the matter, unless the particular magistrate requires your presence.
(The process will now be completed and you must ensure that your monthly payments are made timeously in order to prevent Credit Providers from taking action against you.)