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Q: What Is a Form 16?

A: Alternatively known as the Debt Review Application Form. This is your Debt Review Application Form as required by the National Credit Act (NCA). Your Debt Counsellor needs this form to assess your financial situation. Your Debt Counsellor will also…

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Q: What Is a Form 17.4 or Form 17.W?

A: Alternatively known as the Cancellation Form. Whether a Debt Review is cancelled voluntarily or involuntarily the National Credit Act (NCA) requires that a Debt Review Cancellation Form is completed. There are serious considerations to make before cancelling your Debt…

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Q: What Is a Form 19?

A: Alternatively known as your Clearance Certificate. This is your key to your new beginning and what you are working towards in your Debt Review. Your Clearance Certificate will be issued when: All your accounts listed under Debt Review have been…

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Q: What Is a Form 17.1?

A: Once your Debt Review application has been completed your Debt Counsellor is required by the National Credit Act to let your creditors and the credit bureaus know that you have formally applied for Debt Review. This communication is done…

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Q: What Is a Form 17.2?

A: Your Debt Counsellor will do an in-depth evaluation of your financial situation to determine whether you legally qualify for Debt Review. Once your Debt Counsellor has completed the evaluation they will send out a Form 17.2 which then states…

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Q: What Is the In Duplum Rule?

A: When you are in arrears with a credit agreement, the In Duplum rule regulates the amount that you are responsible to repay to that creditor. Its aim is to prevent the creditor from demanding an unlimited amount (unlimited interest)…

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Q: Can My Creditor Terminate My Debt Review?

A: Creditors have the right to terminate your Debt Review when: Payments are not received according to the payment plan. The amount being negotiated is not accepted. When a counteroffer is not accommodated. In the case of a termination, DebtSafe…

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