Debt Counselling Process * Step 1 - Complete our application form and provide us with all your creditors * Step 2 - We do an assessment to see if you are over-indebted (does your monthly expenses exceed your monthly income) * Step 3 – Once the assessment is done for over-indebtedness and you do qualify for debt review, then we will contact all your creditors and credit bureaus and inform them that you are under debt review. * Step 4 – We draw up a restructuring proposal to each of your creditors * Step 5 - If your creditors accept the proposals, a Consent Order is obtained from the Magistrate’s Court. * Step 6 – Once the Consent Order is granted, you will start paying the reduced fee to our Payment Distribution Agent in accordance with the Rules of the National Credit Regulator. * Step 7 – The Payment Distribution Agent will pay the creditors in accordance to the debt restructuring plan. * Step 8 – We provide monthly aftercare and monitor your payments to the Payment Distribution Agent aswell as payment to your creditors
Posted on: Thu, 14 Nov 2013 14:29:05 +0000
Trending Topics
Recently Viewed Topics
© 2015