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Debt Review Repayment

Questions & AnswersDebt Review Repayment
Anonymous asked 3 years ago

How is the monthly payment collected by DebtSafe?
With debit order or salary order? I don’t want my work to know as I am working with family.

 

1 Answers
Matthys Potgieter Staff answered 3 years ago

Hi there.

Thank you for your question.

Your monthly debt review repayment is collected through a debit order.

This is done through your Payment Distribution Agency (PDA). A PDA is required by law to handle your court approved debt repayments. They collect the debt repayment from you – through debit order – and distribute them to your credit providers. The great thing about this is that you only make one monthly payment to the PDA, and they make sure it goes to the correct creditors as specified in your repayment plan. At DebtSafe we use a well-known and trusted PDA called ADCAP.

An important note is that you are required to open a new savings account at a new bank. Very important; this needs to be at a bank where you have no previous dealings. Then your PDA will help you setup a debit order from your new bank account. So you will have to inform your employer to pay your salary into your new bank account. But other than that they don’t have to know about your debt review. Being discreet is something we take very seriously when helping our clients through debt review.

If you have any other questions you are welcome to send them to [email protected] and we will gladly assist.

Have a great day.