DEBT REVIEW - Debt Counceling Questions | Debt Councelling Answers

Why use a Debt Counsellor?

Debt Counsellors were formally introduced by the National Credit Act (NCA) to help consumers who are having trouble with their debts. DebtBusters will negotiate with your credit providers on your behalf and design a manageable debt repayment plan that you can afford, so that you can take control of your finances and your future.

Do I need help?

If you are struggling to make your monthly debt repayments and are getting calls from your creditors, it is a good time to contact us. We will do a full assessment and advise you if you qualify for our solutions.

Can I apply if I am unemployed?

No, I am afraid this is not possible. However if you are married 'in community of property' and your partner works, then you will qualify as a joint application. It is however essential that you get employment as quickly as possible.

Will my details be sent to the Credit Bureaus and my credit providers?

For debt review, all credit bureaus and credit providers will be notified that you have applied. With our Debt Management Solution we only notify your credit providers.

What if I already have judgements against me?

You can still contact us. Just please ensure we know your complete situation and don't leave anything out. It is essential that we know the full situation from the start, as this can have serious repercussions with the credit providers.

Can you cover all my debts?

We will include home loans, vehicle finance, credit cards, overdrafts, store cards, personal loans and micro-loans. We will then look at your monthly income and expenses and make a recommendation on the amount you can afford to pay each month.

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

No, you can still contact us.

We are married in community of property. Does my partner need to apply?

Yes if married in community of property you are one estate and therefore both of you have to apply as a joint application.

Can I apply for more credit or use my credit cards while under debt review?

No, we will ask you to destroy all your cards and return them to the credit providers. If you do take out credit during the plan then there will be serious repercussions, with the credit providers terminating your debt review and starting legal proceedings.

For debt review what happens if all or some of my credit providers do not accept the Debt Repayment Plan?

Your credit providers have the right to reject the debt repayment plan and if this happens the matter is referred to a Magistrate's Court for the final decision.

Can the credit providers change their mind after the debt plan has been agreed?

No. As long as you maintain your payment each month to the credit providers, they are not able to take further action.

How much will I have to pay to the credit providers each month?

The monthly payments should be as much as you can reasonably afford after you have accounted for your basic living costs and those of your dependants. A Debtbuster's consultant will go through your budget and advise how much you have available to pay your credit providers.

What happens if I miss my monthly repayments?

If you miss a monthly repayment the credit providers will terminate the debt review and start legal proceedings which will include judgements and garnishee orders. If you are struggling to make your monthly repayment contact DebtBusters client services immediately so we can advise the credit providers of your situation and work out a more affordable debt repayment plan.

What if I get a job overseas?

You can move and work overseas but please advise us beforehand. As long as you continue making the monthly payments, you can stay on the debt repayment plan.

Do I have to attend an interview?

We can organise everything over the phone, except certain documentation that requires your signature and then needs to be sent back to the consultant

What to do if a Credit Provider phones you or harasses you in any way:

Advise them that you have applied for Debt Review in terms of section 86 of the National Credit Act. If they ask for proof show them your receipt. Request that they contact us on 0861 66 3328.

If a credit provider tries to make a new arrangement directly with me?

Firstly never ever make any promises to a Credit Provider without first discussing with us.

What to do if you are sent legal documentations?

Advise us straight away by calling us on 0861 663 328.