Debt Consolidation Guide

Debt Consolidation Guides

Debt Consolidation made easy...make sure you have all the paperwork necessary to consolidate your debt. Use this debt guide to assist you:

	Application Form
	A copy of your payslip and ID
	3 month's non-internet bank statements
	6 month's bond statements
	6 month's business bank statements if self-employed

The minimum criteria for Debt Consolidation:

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• A clear credit record
• No arrears on your repayments

Max Loan

• 85% of the value of your property

Bond repayment

• May not exceed 30% of your gross monthly income

What exactly will happen when you apply:

• A consultant will check documentation for accuracy
• A credit check will be done
• Your repayments to monthly income will be calculated
• A valuation of your property will be done
• The application will be forwarded to the banks for approval

If your application is successful:

• Your consultant will let you know
• An acceptance letter will be forwarded to you
• Attorneys will contact you to sign the registration letters
• All fees will be deducted from the total granted amount

If your application is unsuccessful:

• Our consultant will advise you to the reason
• We will review your circumstances
• We will make recommendations as to other products
• Debt Management, Debt Counselling, NDMA

What are the fees:

• Registration Fees for R700 000 - R5 300 approximately
• Initiation Fees - R5 700
• Our Consolidation fee - 1% of the total value of the loan

Please note that all these fees are deducted from the total further loan amount by the attorneys before paying the balance over to you.

Debt Management | Debt Counselling | Debt Consolidation | NDMA | Insolvency
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