skip to Main Content
NCR
REGISTERED DEBT COUNSELLORS
PFA
PUBLIC FAVOURITE
AWARD
SAIFF
CERTIFIED
PARTNER
Tel: 0861 100 999 | Mission Control - Login

Why is my debt review payment increases every year by 10%?

Questions & AnswersWhy is my debt review payment increases every year by 10%?
Anonymous asked 2 years ago

Hi

I am under debt review with this other DC since October 2013, but surprisingly my debt has not decreased with my creditors and I pay all my monthly installment since October 2013. Is this because of the higher interest?

Secondly, I started debt review paying R5500 monthly but it increases each year, I now pay R6655 and when I am looking at the projections; it states that I’ll be paying over R10500 December 2019, is this increase normal for all debts reviews?

Lastly, my January debit order didn’t go through because my car insurer deducted twice the normal premium. Is it possible to catch up in the following months or am I in trouble?
I tried to email my DC but I didn’t get response in time, I am now panicking. That’s the reason I am looking for answers somewhere else.

Thanks