Contact Debt Aid on 071 107 4721, or click here for a Free Debt Assessment to establish whether you are over indebted or not.
A Debt Counsellor of Debt Aid Debt Counselling services will assist you in completing the application form. The following documentation is required when applying for debt review:
- A certified copy of your ID document and that of your Spouse (joint appl)
- The latest original pay slip and that of Spouse (joint appl)
- Three month bank statements stamped by the bank
- A copy of your marriage certificate (joint applications)
- Latest statements of your accounts
Within 5 working days after the application form (Form 16) has been completed and signed, we the Debt Counsellors, will inform the Credit Bureaus together with all your Credit Providers that you are under Debt Review. After the notifications (Form17.1) have been sent out, the Credit Providers will send the Debt Counsellors a Certificate of balances for all your accounts.
We will complete a Debt Restructuring Plan and submit the new installment proposals to all your credit providers. We negotiate on the term, penalties and interest rates. The creditors will then accept or reject proposals or send counter proposals.
5. COURT APPLICATION
An affidavit will be send to you that must be signed in front of a commissioner of oath which forms part of the Magistrate Court Application for a Debt Review Order.
6. AFTER CARE
We will follow up payments with the Payment Distributor Agency on a monthly basis until all your Debt has been settled in full.
7. CLEARANCE CERTIFICATE
Finally, once your accounts have been paid up, we will issue you with a Clearance Certificate. The clearance certificate will be send to the Credit Bureau and your status will be updated accordingly.