Benefits

Debt Counselling offers legal protection

Debt Counselling offers legal protection through the National Credit Act. Credit Providers are prohibited from taking legal action against consumers who are under debt counselling.

Debt Counselling brings financial relief

Debt counselling offers immediate financial relief. From the moment that you enter the debt counselling process your budget is reviewed and debt instalments are reduced by up to 60%.

Debt Counselling simplifies debt repayments

You pay one single installment from the moment you apply for debt counselling. That installment will cover all the accounts that are included in the process.

Debt Counselling protects your assets

The debt counselling process prohibits credit providers from repossessing your vehicle, house or other assets. This protection is in effect for the whole duration of the debt counselling process.

What exactly is debt counselling?

Debt Counselling is a process defined by the National Credit Act to assist consumers who are over indebted. It allows a debt counsellor to negotiate with credit providers on behalf of the consumer. The powers offered to the debt counsellor through the National Credit Act allows the debt counsellor to reduce the monthly instalments of the over indebted consumer.

By reducing the monthly instalments the debt counselling process brings immediate financial relief to the consumer and affords the consumer a way to pay back debt in a controlled and protected environment.

Debt Counselling is regulated by the National Credit Regulator. It is therefor important to know that every debt counsellor must be registered with the National Credit Regulator.

The process also offers the opportunity to clear a consumer’s credit record through the clearance certificate.

Debt counselling is the best remedy for over indebted consumers because it brings immediate relief, offers protection for the duration of the process and ultimately rehabilitates consumers into the credit market.

The alternative when Debt Review is not a option anymore.

 

What is the voluntary surrendering of your Estate.

      1.        When a person/Legal persons total debt exceeds the value of his/her assets, or

            2.      When a person/Legal person is not able honour their financial responsibilities.

 

The voluntary surrendering of an Estate is a process that helps the client who are not able to pay his/hers total monthly debt anymore, which can be for reasons out of their control. Surrendering of your estate also gives the client some breathing space, to live a normal financial live and to be able to get rid of the financial stress. There will also be no fear anymore that the sheriff would knock on your door to write up your furniture, and you can answer private calls without the worry that it could be a collector calling and threatening to reposes your assets.