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Ashveen hemraj asked 1 year ago

Hi, I have unpaid amounts from different accounts and it’s affecting me by trying to get a bond. Please advise on how to clear out my name with reasonable monthly payment

1 Answers
Carien Kruger Staff answered 1 year ago

Hi there,

Thank you for getting in touch.

You could consider debt review.

How debt review works:
Debt review is the program that reworks your debt payments into an affordable, consolidated repayment plan. Your repayment plan is formulated in such a way that it enables you to pay for essential living costs, giving you immediate breathing space. Your repayment plan is agreed upon by your creditors (we negotiate with them on your behalf), regulated by the National Credit Act and authorised through a court order. This means that the debt review program legally protects you, and your assets, against creditors who want to take legal action against you.

But do note: The National Credit Act prohibits you from incurring any further credit while you are under debt review.  The reason for this is that whilst under debt review your budget is calculated and precisely allocated to your current debt obligations and other living expenses.

Once your debt review program is successfully completed you will receive a clearance certificate. This is sent to your creditors and the credit bureaus – they are then required by law to remove all the info on your credit report about your debt and the debt review program. Meaning your financial slate is wiped clean, your debt worries are in the past, and you can start living your new beginning.

If you would like more information regarding debt review, or request a free debt evaluation (no obligation required), you are welcome to fill out our contact form found here.

Once submitted our contact centre will get in touch with you soonest.

Have a great day.