Section 129 Notice: What should you do?

7 October 2019

If you continue to miss payments, you will eventually be handed a Section 129 Notice – the final step before legal action is taken against you for neglecting your debt.

But, what are you expected to do once you receive this? Here are a few pointers you should keep in mind:

1. Do not ignore the Section 129 Notice

Your creditors will send you a Section 129 Notice if you have not paid your accounts within 20 business days. It will state how much you owe on that specific date.

If you do not act immediately by addressing your debt, your creditors will be forced to take legal action against you. Therefore, the Section 129 Notice is your last opportunity to address your outstanding debt, and to show your creditors that you’re ready to meet your obligations.

If you ignore this, they will proceed with legal action and your debt may end up doubling because of the legal fees that will be included in your final amount due.

2. Do not take out a personal loan to settle your debt

Consolidating your debt with a loan might be the right decision for you. However, the interest rates on personal loans are notoriously high – especially if your credit score has already been reduced because you missed your monthly instalments.

Settling one debt with another will simply perpetuate the debt cycle. There are many factors to consider when consolidating your debt, such as the comparative interest rates and the term you’ll have available to settle it. Therefore, it’s best to seek the help of a qualified professional.

3. Apply for debt counselling

It’s best to get in touch with a debt counsellor as soon as you receive your Section 129 Notice. At DebtBusters, we will be able to do a free debt assessment to find out how deeply indebted you are and we will advise you on what to do next.

Debt counsellors are qualified to help you make the right calls regarding your unique financial position. We will consider all your financial information and ensure you pay a single, reduced instalment each month should you qualify to enter the process.

Get in touch with DebtBusters today on 086 999 0606 or at to make sure your creditors don’t take legal action against you and to protect your credit score from being tarnished further.