If you are battling to pay your debts, please don’t wait until it’s too late.  We here to assist consumers from having their assets repossessed and to achieve financial freedom.

Contact

(011) 568 7730

Honeydew Ridge, Gauteng

lnfo@refinedebt.co.za

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Process

Refine Debt Solutions

What is the procedure to apply for Debt Counselling?

A consumer is regarded as over-indebted when he/she is unable to pay their debts in a timely manner. The consumer would approach a Debt Counsellor that is accredited with the National Credit Regulator.

Application

We will process and evaluate your application form (known as form 16) as soon as we receive your completed form plus supporting documents.

Notification to Credit Providers and Credit Bureau

We will notify all your creditors and every registered credit bureau with a formal notice. This takes 5 business days. Once this process starts, you will be placed on debt review and be protected against your creditors.

The Assessment

The Debt Counsellor will evaluate the consumers' financial situation and prospects of debt re-arrangements with enough cash remaining for your living expenses. This process is also to determine whether the consumer is over-indebted or not. During this evaluation, the consumer and his or her credit providers must comply with the requests of the Debt Counsellor and participate in the review and negotiations relating to the debt re-arrangements. The Debt Counsellor negotiates with the creditors to lower your monthly repayment to an affordable amount that suits your needs. Continue the provincial payment plan put in place.

The Proposal

The Credit providers of the consumer will be informed of the Debt Counsellor proposal. They can either accept or object the proposal

Application for repayment plan to be made Court Order

An application is made for the debt repayment plan to be appointed to attend the court proceedings on your behalf. Once the court order is issued, you are protected against legal action taken by your credit providers. Should the consumer’s situation change for any reason while under debt review, the consumer is to inform their Debt Counsellor of any necessary changes.

Clearance Certificate

A Consumer that is under debt counselling can only be cleared or exit debt counselling, if all debt has been subject of debt counselling restructuring order, has been paid in full or is all short-term debt have been paid up in full and the only remaining debt is a home loan account which is up to date in terms of the debt counselling restructuring order. After verifying all the paid-up letters, a Debt Counsellor will issue a clearance certificate and inform the credit bureau the remove the debt counselling flag and expunge all information relating the consumer’s debt which was under debt counselling.

Speak To A Debt Counsellor

Reach out to us & we will respond as soon as we can.

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