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Frequently Asked Questions

Debt review also know is debt counselling which was introduced by the NCA in 2007. Debt review is aimed to assist over-indebted clients and those that are falling behind on their repayment to credit providers. Once the debt review process has started your assets will be protected and credit providers cannot take legal action.

We will first look at your expense and your income, we will design an affordable repayment plan once you have been accepted for debt review. We will then contact your credit provider with a proposal. From here we will facilitate the entire process on your behalf.

Yes, it will. If you are up to date with your payments under the debt review process. However, it will be impossible to assist if more than 10 days have passes since you received a section 129 from the credit provider or if legal action has commenced.

You need to be employed to apply for debt review. Should you be unemployed you cannot be under debt review. Once you have found employment you can contact us.

There is no need for you to go to court. We have attorneys on our panel to attend to the entire legal process on your behalf. Since debt review is a legal process.

This will depend on the how over-indebted you are. This is done on a case to case basis. Your debt counsellor will provide you with more information once you are ready to take the next step.

Once we have conducted the assessment and determined you are over-indebted, for a period of 60 days during the debt review process your creditors will not be able to implement any legal action against you.

A debt counsellor goes to rigorous training and understands the industry. You can rest assured when using a registered debt counsellor that you are in safe hands. A debt counsellor will take charge of your accounts and assist you in getting back on your feet. You are also protected once you enter the debt review process with a debt counsellor.

Once you notice that you are struggling with your finances and you realise that you are over-indebted then you should discuss this with an SDA debt counsellor.

Once you have finished paying off your unsecured debt, settled your vehicle finance accounts and your home loan account is up to date you will qualify to receive a clearance certificate. Once SDA has received confirmation that all the accounts are settled and your home loan account is up to date, a clearance certificate will be issued which will be sent to the credit providers and the credit bureaus so that the ‘debt review’ flag will be cleared from the client’s profile.

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This is the first step a credit provider takes. This letter serves to inform the consumer that their accounts is in arrears, the steps the consumer should take. It also stipulates what action the credit provider may take.

We will notify your credit providers to cancel your debt orders. We however recommend that you open a new account.

A once off restructuring fee of 100% of your debt rehabilitation amount up to a maximum as per the NCR’s guidelines. Once off Application fee of R57 incl. VAT. A Sundry Fee equivalent to your monthly debt rehabilitation amount for your legal application to the NCT or Magistrate Court. A monthly Aftercare Fee of 5% (ex VAT) of your monthly debt rehabilitation amount for every month that you are under debt counselling. Monthly Transactional Payment Distribution Fee (PDA) as per the NCR.

No, we will never collect monies directly from you. We make use of payment distribution agency to collect from you and distribute to your credit providers.

No, We appoint a payment distribution agency to make payments on your behalf, Once the payment has been collected from your bank account.

No, you will remain protected while you are under debt review. However, if you were blacklisted already, this listing will remain on your credit profile.

You will not be able to use your credit card or apply for credit while you are under debt review. Once you have been issued with a clearance certificate you can apply for credit.

This should not be the case, taking the step to go under debt review shows that you are interested and have taken steps to rectify your situation.

We at SDA will do our best to negotiate your repayment and interest rate, however your debt may grow slightly due to factors such as interest and costs charged by the credit providers.

Yes, you can. Renting out your property does not have any bearing on the debt review process. The income earned from renting your property can be taken into consideration during the debt review process.

Due to the nature of the issue, we have to deal with the matter on case by case basis. Your marriage contract will have a large impact on what is done with the debt review process once your divorce has been finalised. If you are married in community of property, you will be under a joint debt review. This is due to the fact that your estate is viewed together as one single joint estate according to the law. Both you and your husband are therefore responsible for outstanding amount of debt, until your debt is finalised. If you get divorced while you are under debt review and you have the debt review court order in place, then this will need to be rescinded and for new debt counselling applications to be started, as in order to follow on with the debt counselling process you will need to reapply, but will now need to be seen as two single applications. A new budgets and new proposals will have to be drawn up.

You are welcome to contact SDA if you have judgements, we will provide assistance and guidance regarding judgements. It is essential that we know the full situation from the start, as this can have serious repercussions with the credit providers.

This will depend if you are married in community of property, if you are then you are your partner will need to be under debt review.

Once your repayment plan has been drawn up, you must commit to meeting your repayments each month, and the onus is on you to ensure they are met. If you miss a repayment and a creditor takes legal action against you, your counsellor will be powerless to help you.

Once you have been placed under debt review you are legally protected and your credit providers cannot harass you. Should this persist, we suggest you inform your credit providers that you are under debt review and ask them to contact SDA immediately.

A consumer is over-indebted when he/she is unable to pay all his/her financial obligations timeously, as agreed in a credit agreement. ... In such instance, you should immediately contact SDA for a free no obligation assessment.

Credit providers can reject debt repayment plans. If this happens we will refer the matter to a magistrate’s court for an examination and final decision. Once the court order has been granted the debt restructure process will be formalised and considered successful.

We first need to conduct an assessment. Based on your assessment we will advise you if you are over-indebted and then can you join immediately after the outcome of the assessment.

 
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