SERVICES We offer debt counseling services to over-indebted consumers. Placing their estates under debt review in terms of the National credit Act. Were structure their debts and come up with one affordable monthly installment, and left the consumer with enough money to service his/her essential needs. We also provide consumers with credit reports from two Major Credit Bereaus. We also assist our clients to identify if the garnishee order is legal or illegal. If it is illegal we rescind it and advice the judgment creditor to follow the proper procedure . TRANSUNION AND EXPERIAN CREDIT BEREAUS. REQUIREMENTS 1. Copy of identity document / Passport. 2. Salary Advice 3. Three month Bank Statement. 4. Statement/s of account from various creditors. 5. Credit Profile( we provide it) 6. Letters of demand (Section 129) and summons if received. NB: IF YOU ARE MARRIED IN COMMUNITY OF PROPERY IT MUST BE A JOINT APPLICATION. Cost of application for Debt review fee (Assessment) R50.00 and the Rejection fee is R300.00 Restructuring fee is your first installment in terms of the National Credit Act. NB: should your creditors disagree with debt counsellors proposal the matter has to be referred to court and the consumer (client) is liable for the cost. Should your creditors agrees with your Debt counsellors proposal the matter has to be referred to the tribunal court for an order and the cost is R750 of which it is consumer(clients) cost. HOW IM I GOING TO KNOW HOW MUCH IT IS GOING TO BE MY MONTHLY INSTALLMENT. VERY SIMPLE LOOK AT THE EXAMPLE BELOW:- Formula: Example 1. Gross salary R10 000.00 – Salary deductions R2 800.00 = Net (Take Home) R7 200.00 2. Net (Take home) R7 200.00 – Essential living expense (water & lights, Grocery, transport, School fees, Funeral cover etc) R3 300.00 = Available for your creditors R 3900.00(meaning the amount you are going to pay until your debt is paid in full.
Posted on: Wed, 16 Apr 2014 07:12:17 +0000
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