Debt Review – Debt Counselling Steps
Debt Review Steps – Control Debt provide Debt Review/Debt Counselling services that offer a solution to over-indebtedness with the goal of recovery back into the credit market. Debt Review will safeguard the consumer from the loss of valuable assets and keep the Credit Providers from taking legal action. Any person in debt can apply for debt counselling, upon where a registered debt counsellor will do an assessment to determine over-indebtedness. If a consumer is found to be over-indebted, the Debt Counsellor will contact the Creditors and negotiate with them in an attempt to get the instalment reduced.
In many cases, the Creditors say yes to a reduced interest rate and the debt counselling process that is regulated by the National Credit Act. Debt review is not a new process and many people in South Africa already have benefited from the debt counselling process and application. Assets can be safe guarded with the legal process and you can prevent your car or house from being being taken back by the banks by going under debt review. Credit Providers work with the debt counsellors to negotiate a payment for your debt that you can afford.
Debt Counselling Steps:
1. Contact a Registered Debt Counsellor
2. Complete Form 16 – General information
3. Let’s assess the budget & expenses and submit your documents.
4. Debt Counsellor contacts the credit providers to obtain the latest balances outstanding.
5. Debt Counsellor negotiates for reduced interest rates and instalment with credit providers.
6. Court order is granted and repayment plan approved.
7. Consumer pay the new lower negotiated instalment
8. Statements are sent to you monthly to keep track of payments & balances.
Once you apply for debt counselling you are relieved from the stress of Credit Providers calling you to make payment. Your debt counsellor Control Debt will speak to all the credit providers and take care of your debt review case. You can have cashflow relief since you will be only make one payment towards all your debt combined per month. This payment will be divided and distributed by a PDA each month to all your credit providers. Once all your debt is paid up, your debt counsellor will get the paid up letter from your credit providers and issue a clearance certificate to you. This declares that you have completed the debt review journey and term and are debt free again.
Apply/Enquire – Do a free debt assessment here:
Follow the link below and provide your details and information confidentially. Control Debt will provide you with a free debt assessment and Credit Report and assess whether you qualify for the debt review process.
https://docs.google.com/forms/d/19q3qHzJ3QTv_rpwgo8_vlQg1NgAQtv_xLmAl0k8LLEY/edit

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Enquire here: info@controldebt.co.za