Debt-911 has simplified its debt review process to facilitate the speedy resolution of our customer’s debt review process. If you are in Johannesburg or it’s surrounds, you are ideally placed to make use of our service.
The following represents a short summary of the debt review process
Consumers who feel they may be over indebted will contact Debt-911 following which an initial assessment will be made of the persons personal financial affairs.
Documentation Required to Conduct a Debit Review
Documentation is completed and copies of all relevant documentation including the following:
- ID document
- latest copies of all relevant accounts
- copy of your payslip
These are to be are supplied enabling Debt-911 staff to make a detailed analysis of all expenses. Our trained staff will then consult with the client to establish exactly what the monthly expenses are. It is important that all creditors are listed and details are provided for each as Debt-911 will then prioritise items such as transport, housing, groceries, school fees etc so you are not left wanting. The remainder of your budget will then be used to calculate an affordable monthly repayment plan spread throughout your creditors.
Let Debt-911 Negotiate On Your Behalf
Debt-911 counsellors will then inform your various creditors and credit bureaux that you have submitted an application for debt review. Once this occurs, your creditors are expected to supply details of their your accounts with them and they may not institute legal action against you for a period of 60 days, enabling our counsellors to negotiate a more reasonable monthly repayment with each creditor. Obviously this ruling only applies where a creditor has not yet taken legal action against a consumer. It is very important to note that payments should continue to be made throughout the notification period.
The final step in the initial phase is to get a court order enforcing the new, more affordable monthly payments.
Debit Review Does Not Mean That You Are Off-the Hook.
Please be aware that after the new, lower payments have been negotiated, payments have to be made strictly in accordance with the court order or consumers run the risk of having their debt review status terminated opening themselves up to legal action and the attachment of their assets.
Compliance is very high and most Debt-911 clients emerge from the debt review period within 36 -60 months debt free and very importantly with a clean credit record.
Don’t Wait Until It’s too Late
If you are beginning to feel the squeeze of overwhelming debt burden, feel free to fill out the form alongside or SMS HELP to 40935 and one of our highly experienced debt consultants will call you to discuss your personal financial situation.