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What Happens to My Accounts during Debt Review?

Questions & AnswersCategory: Debt ReviewWhat Happens to My Accounts during Debt Review?
Anonymous asked 3 years ago

Hi.

After applying for debt review, what will happen to my accounts, like Telkom, DStv, insurance policies etc.?
I do not want to lose these facilities.

1 Answers
Wikus Olivier Staff answered 3 years ago

Hi there, 

Thank you for your question. 

When under debt review DebtSafe will provide you with a budget. This budget takes into consideration your income and expenses, and is agreed upon by the court and your credit providers. 

Your new budget will ensure you have enough funds to cater for all your reasonable living expenses. Provision will be made for things like groceries, transport, water and electricity, clothing, insurance, medical expenses and more. Luxury expenses will have to be cut in order to show the court that you are serious about getting out of debt and to pay off debt faster – in the end of the day that is the goal. 

For more information on how your specific budget will look please contact us at [email protected] 

Have a great day.