Become Debt Free with Debt Solutions

Tel: 013 752 2994
013 752 2853

Process

Documentation Required

The following documentation will be necessary:

  • Identity documents
  • Recent payslip or proof of income
  • Proof of residence

Debt Review Process

01

Step 1

Schedule an appointment with our Registered Debt Counsellor.
02

Step 2

An assessment will be made to determine if you are over-indebted, and to assess to what extent. This assessment is based on a Free Credit report that will be included in the first consultation.
03

Step 3

You then complete and sign the document provided for formal application for Debt Counselling, whereupon we will make immediate application for Debt Restructuring on your behalf.
04

Step 4

Notification of your application will be submitted to all Credit Providers, the National Credit Regulator as well as Credit Bureaus.
  • All outstanding balances will have to be verified with Creditors
  • No additional applications for new credit is permissible whilst under Debt Review
    05

    Step 5

    A debt repayment plan will be discussed, thereafter a formal proposal will be sent to Creditors, as well as to a Payment Distribution Agency (***PDA). Your Debt Review Application will also be referred to the Magistrate Court.
    Our fundamental aim is to strive towards the Creditors agreeing to and accepting the re-structured terms.
    06

    Step 6

    The Debt Counsellor completes all administrative requirements, in compliance with the agreed re-payment structure.
    07

    Step 7

    A Clearance Certificate will be issued once all Debt Obligations are settled ; as per the Granted Court Order. The Debtor's name will be cleared from the Credit Bureau listings.

    *** PDA – A monthly payment will be made to a Payment Distribution Agency, who will distribute your payment in accordance to the Debt Restructuring plan. The PDA is appointed by the National Credit Regulator.

    Image