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Investment and Debt

Makhi asked 1 year ago

I’m currently a client at Old Mutual as I have an investment of about R300.000. This year is my last year to gain access to my investment, now I was wondering if I can make a deal to get some of the money just before the end date because I’m in a financial crisis.

1 Answers
Matthys Potgieter Staff answered 1 year ago

Hi there,

Thank you for your question.

It would be best to get in touch with an advisor at Old Mutual. Note that you can apply for and make use of the debt review process and still keep your investment intact.

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.

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.