Debt Counselling Process
- We require details of income, monthly budget and debt commitments. You will also have to provide copies of your payslip, ID and latest statements of debt.
- The Debt Counsellor will do an initial assessment to check over indebtedness and then set up consultation with you. This will either be a face to face or telephone consultation.
- During the consultation, the debt counsellor will verify your budget and your existing debt commitments.
- A new budget will be agreed upon and the amount available for debt repayment will be determined.
- The Debt Counsellor will contact all your Creditors as well as Credit Bureaus to verify your debt.
- You will be listed on the Credit Bureaus as being under debt counselling.
- We will negotiate, wherever possible, a proposal with all your creditors.
- The Creditors may accept the proposals and, if all, then a consent order will be obtained from a Magistrate Court.
- If one or more creditors do not accept the proposal , will submit a proposal to the Magistrate for a decision, this will be done through attorneys . They will apply for a court order on your behalf.
- We will also provide you with a final repayment plan. This plan will also be submitted to the Payment Distribution Agencies. (PDA).
- The aim of this is to collect a single payment and ensure that the correct amount is paid to all Credit Providers on a monthly basis until the debts have been repaid.