Debt Counselling Debt Counselling
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Debt Counselling Process


1. Contact our office for an explanation of the procedure and costs of applying for debt counselling;

2. Complete an application form to apply for debt counselling. The following documents must accompany your application(You may download the application form):
  • Copy of your Identity book;
  • Proof of income - Payslip;
  • Most recent creditor statement - Clothing accounts, credit cards, retail accounts, vehicle finance, home loan, personal loans;
  • Proof of all expenses - Utilities account, cell phone statement, school fees etc.
3. Once the application form has been completed, a financial assessment will be conducted in order to confirm that you qualify for debt counselling.

a. It is calculated by deducting your total expenses, living expenses and debt commitments, from you monthly income.
b. Should your monthly expenses exceed your income you may qualify for debt counselling.

4. After your affordability has been calculated, all your creditors will be notified of your application.

5. A new repayment plan will be calculated according to your affordability and proposed to your creditors.

6. The repayment plan will be made an order of the court.

7. Once all debt has been repaid, you will be provided with a clearance certificate.

8. Your repayments and affordability will be revised annually.

This is only a basic overview of the debt counselling process. A detailed explanation of the process will be provided on you first consultation.

 

Debt Counselling

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