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FAQ

Quick FAQ - Debt Counselling

Does it make a difference if I own my home or not?

No, it does not make a difference, your bond will also be included in the debt review.

How long will it take before my debt is cleared?

This depends on numerous factors and can only be determined once we have all the facts at hand (the total amount available for your creditors, total debt outstanding and agreed negotiated rates with your creditors). You will get a full breakdown when everything is processed.

How will this affect my bond?

In the majority of cases the Banks will accept a reasonable offer, usually around 80% of your bond, but in some cases we will keep normal instalments on your bond. We will certainly make sure your bond is treated as the highest priority debt in order to make sure your home is secure.

If I am married COP must my spouse also be placed under Debt Review?

Yes, if you are married COP it means that you legally share all assets as well as debts with your partner. Therefore, by law, both of you must go under debt review.

When can I start on the Debt Counselling Plan?

You may join the plan immediately subject to completing the application, submitting all relevant documentation and filling the qualification requirements.

Will creditors continue pursuing me for payments?

Your creditors shall according to National Credit Act stop pursuing you when you have been placed under debt review. Sometimes it can take a bit of time for creditors to update all their departments that you are under review – should they contact you, let them know that we are your debt counsellors and that we are acting on your behalf. You should forward any letters for us to deal with on your behalf.

Will I have to attend an interview?

No. We treat our clients with trust and respect. You will not have to take time off work to visit us and no one will visit you. We will only contact you when it is necessary.

Will the payment plan cover all my debts?

Yes, we will deal with all your unsecured and secured loans. When we analyse your finances, we will make appropriate allowances for you to be able to afford your day-to-day expenses before we calculate how much you can afford to pay your creditors.

Debt Counselling In Bloemfontein

Bloemfontein Debt Counsellors

Debt Therapy can assist individuals with debt in Bloemfontein – we have clients all over South Africa. Our head office is in Cape Town but there is no need for you to come into our office and we handle the whole process via email, fax and over the phone – this is in order to save time and be able to offer a quicker and better service.

Debt Therapy will help you get your debt situation under control. Give us a call on 0800-20-47-28. Get a Free Assessment of your situation by clicking the link below.

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FAQ

Quick FAQ - Debt Counselling

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Debt Counselling In Bloemfontein

Bloemfontein Debt Counsellors

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