An application fee of R50 is required and must be paid by the client when submitting his or her application form (form 16). If you complete the free financial assessment online, there will be no application fee.
CLICK HERE for a Free Financial Assessment to determine if you are over-indebted.
Once it is established that you are over-indebted and you have completed and signed the application form, a once off initiation fee equaling the monthly amount available for your debt re-arrangement plan is payable on the next date of receiving your salary.
This amount will not exceed R6000. If your monthly income is less than R2500, you will not pay this fee.
A monthly maintenance fee of 5% is also payable by the Consumer to the maximum of R400 for the continual updates and maintenance on the client’s debt review process. This amount however is included in the total monthly distribution amount that will be deducted with a debit order.
Clients must be aware that there are also legal cost implications in taking the matter to court.
Should the consumer withdraw from the Debt Review Process after a certain stage a fee equal to 75% of the restructuring fee will be payable by the consumer.