Debt Solutions has been established with the aim to assist
consumers with debt restructuring. We are registered with the
National Credit Regulator and use a National Payment Distribution
Agency to manage repayments to creditors. Our head office is
based in Nelspruit, Mpumalanga.
Our Worcester satilite office assists consumers with applications
and provide a Debt Counselling service to the Breede River Valley
and surroundings.
Applications can also be submitted by fax or e-mail, from across
South Africa.Consumers finding it difficult to meet their monthly
obligations, can restructure their debt payments to affordable
monthly payments.
Purpose of Debt Counselling.
To assist over-indebted consumers.
The debt counsellor acts as a negotiator between the consumer and
the creditors
Benefits of Debt Counselling
No legal action can be taken, and no assets can be repossessed for a
period of three months after your creditors have been notified about
your application.
Affordable monthly repayments The consumer will be able to afford
basic living expenses.
To alleviate consumers financial strain.
Be debt free in a fixed period of time
Debt review process
A decision will be made based on information presented to us.
If the consumer is over indebted, we will then apply for debt
restructuring on the consumers behalf.
Notice regarding the application will be given to all registered
credit bureaus and credit providers.
Application for additional credit may not be done whilst under debt
review.
The aim is to work towards a situation where all creditors agree to
the re-structured terms.
While the creditors are not obliged to accept the offering of
re-structuring, the debt counsellor may submit the proposal to the
Magistrates Court and request a court order to enforce the
conditions.
The debt counsellor completes all paperwork and ensures that a
re-payment structure is in place A clearance certificate will be
issued after fulfillment of all obligations to creditors, and the
consumer’s name will be cleared from the credit bureaus, if
applicable.
