Debt Counselling Rondebosch East
If your monthly repayments that you are paying on your house, car, credit cards and accounts have risen so high you’re facing blacklisting, one option is to go into debt counselling or debt review. If you reside in Cape Town then we can assist you as we specialize in debt review services in cape town.
The debt review process was introduced a few years ago in 2007 with the National Credit Act (NCA). The benefit is that, while you’re getting debt counselling and in the process of paying off your debts, legal action can’t be taken against you. So you can see the benefit of this.
Bear in mind that you can only take advantage of this process if you have a regular income to develop a reasonable repayment plan.We here at debt review cape town will assist and advise in this regard. Debt Counselling Rondebosch East.
COUNSELLOR. (all Debt Counsellors are required to be registered with the National Credit Regulator). Any consumer who is employed and earns an income may apply for Debt Counselling.
The Debt Counsellor will assess whether the consumer is over-indebted. If this is so, he will negotiate with all of your existing creditors on a payment plan. Once the agreement amongst all of the credit providers are accepted, the new payment plan is made and a Court order is obtained.
Your agreed new monthly instalment is then made to a PAYMENT DISTRIBUTION AGENCY (PDA), each month and they distribute it to the various nominated creditors. You may not pay creditors directly.
All credit arrangements may be included such as your Mortgage Bond, Motor Vehicle Finance, bank loans, store cards.
Your name will be flagged at the various credit bureaux, which will prevent you from incurring any further debt.