First of all I want to know, is there an age restriction on applying for debt review and then also, do you have to be employed? If we are married in community of property, can my husband for instance apply and then have both our debts included in his application?
Thanks for the question. You can absolutely apply for debt review if you are married COP or ANC. Your debt review will simply be structured according to you marriage contract.
If you are married COP it will be a joint application and all the debt will be thrown into one pool. Your income will also be joined in the calculations and the payment of all your debt will commence jointly through one single instalment. Both of you will be placed under debt review in a joint application.
Unfortunately you have to be employed or have some form of regular and consistent income. It is important to keep in mind that during the debt review we will negotiate with your creditors for more favourable payment terms. During these negotiations we must be able to put something on the table for them in the form of proposed payments etc. Debt review is not for someone who are unemployed or who cannot make any form of payment.
Hope your questions were sufficiently answered.