We will evaluate your financial position, advise you on the Debt Solutions available to solve your problems, and get the wheels rolling immediately in order to get you protected in terms of The National Credit
Within 5 working days, we will send out a notification form 17.1 to all your creditors. You will be protected against creditor legal action for an immediate initial period of 60 business working days. You will not be blacklisted but only flagged at the credit bureau “as under debt review”, to ensure your protection.
Credit providers must provide a certificate of balance to the debt counselor within 5 business days after receipt of the form 17.1 reflecting the outstanding balances and interest rates on each credit agreement.
The final assessment is made to ascertain if you are over-indebted, in other words,
if your total monthly expenses exceed your total monthly income. A confirmation is
sent out to all your creditors by way of a notification form 17.2.
If consumer is over- indebted,
Once we have implemented the new payment plan you will pay one monthly installment to a NCR accredited Payment Distribution Agency (PDA).Consumer ensures that credit providers receive regular monthly payments as agreed in terms of an accepted proposal (or debt re-arrangement order when granted) to avoid termination. It is of imperative importance to ensure that regular payments are made in terms of the debt re-arrangement plan. If regular payment is not received, if late payment is made, or if no payment is made, that credit agreement may be terminated from debt review by the credit provider.
our specialist Debt Review Attorneys to apply to make your new debt re-arrangement plan an order of court. You will not have to appear in court, but you will be asked to sign a confirmatory affidavit, which will be included in our application.The process is finalized by the granting of a debt re-arrangement order. A consent order is granted by the court which will vary the repayment terms and installments due under the original credit agreements. The process is finalized by the granting of a debt re-arrangement order. A consent order is granted by the court which will vary the repayment terms and installments due under the original credit agreements.
Our Debt Counsellors will revise your financial position annually.
On the settlement of all your credit agreements, Debt 911 will issue a Form 19 Clearance Certificate to all your credit providers and the Credit Bureaux. Your name will be cleared, and you will be able to apply for credit again