Debt Review Process

by Lily Macov National Debt Counsellors

1. Request a Free Consultation

Call us on 087 727 9728 or request a call back and one of our friendly consultants will contact you and provide you with a confidential free financial assessment to see if you qualify.

2. Complete your Application Form

If you qualify your consultant will send you an application form (Form 16) to sign and return to us.

3. Notify your Creditors

Once we receive your application form we immediately notify your creditors that you have applied for debt review and that you are protected in terms of the National Credit Act.

4. Negotiate a New Payment Plan

We request confirmation of your loan agreements from your creditor providers and negotiate and restructure your repayments to an amount you can afford.

5. Pay a Single Affordable Monthly Instalment

You pay one easy monthly instalment via an accredited PDA (Payment Distribution Authority) who distribute the funds to your credit providers in accordance with your restructured payment plan.

6. Make the Approved Plan an Order of the Court

Our panel of Attorneys apply to the Magistrates Court on your behalf to make the restructured repayment plan an order of the court binding your creditor providers to the agreement.

7. Your Debt is Paid Off

Once your debt is repaid we apply for a clearance certificate and notify the credit bureaus to clear your credit record.