FAQ

Q

Will I be blacklisted if I choose the debt review or voluntary distribution program?

AIf you go under debt review this must be reflected on the records of the credit bureaux and the onus would be on them to update their records where the status changes. If the voluntary distribution option is better for you, then this will not be listed on the records of the credit bureaux at all. Please bear in mind, however, that if you fall in arrears with your debt you may be listed anyway on the records of the credit bureau as a slow payer or Judgment may have been granted against you. Give us a call to guide you with your debt counselling.
Q

I am finding myself unable to meet my monthly payments to my creditors and there are so many that say they can help me, but I do not know what is the best option for me, please advise?

AWe cannot say off-hand which debt relief program or product will be best for you until your situation has been assessed (which we do not charge for). Every situation should be treated on its merits. Let one of our counsellors contact you about professional debt counselling. Below is a brief comparison of each of the normal debt relief programs or products:

Q

How do I know what my repayments will be?

AYou and your counsellor will work on a monthly budget, which will include your reasonable monthly expenses like rent, groceries and so forth. Your monthly budget amount will be deducted from your net salary to see what will become available for your creditors. Contact one of our counsellors for discrete debt counselling advice toay.
Q

How long must I be under debt review or voluntary distribution?

AThis will all depend on how much you can pay towards the debt. If you can only pay a nominal amount towards your debt, it will take longer than if you were to pay a more reasonable amount. You are more in control of the period of repayment than we are, and you can have your payments reviewed periodically so that you finish you debt faster. Need any more debt counselling advice? Contact us today.
Q

Can the creditors still contact me if I am under debt review or voluntary distribution?

ACreditors are not supposed to contact you when you are under debt review or voluntary distribution. If they do, it is important that you contact your counsellor and give him/her the details of who contacted you. It is important to work with the program, and the program will then work for you. We can answer all your debt counselling questions, contact us.
Q

When should one apply for debt review?

AOne should apply for Debt Review as soon as the Consumer is not able to meet the monthly payments required from the Creditor. It is not advisable to wait until a Creditor has issued a letter of demand and once a Summons has been issued, that particular account cannot usually be included in the debt review and then a voluntary distribution may be a better option. Our counsellors have answers to all your debt counselling questions.

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