What happens with my property bond if all my debt is paid off after I have completed the debt review term?
You have the option to cancel the debt review process once all your unsecured debt has been paid off. If you still cannot afford the full bond instalment, we suggest that you continue with debt review until such time that you are in a position to pay the full required instalment on your own.
The debt review process as such is not classified as a credit agreement and you will therefore able to rent a property. In fact, we will make provision for your rent expense in your debt restructuring budget and can provide the agent or lessor with a letter that confirms that you are in a position to pay your monthly rent.
When you apply for debt review, we notify all your creditors to cancel your debit orders. We do however suggest that you open a new bank account at another financial institution in order to prevent unauthorized money grabs by your creditors.
How does The Big R Financial Services manage to lower my debt repayments? Why can’t I do it myself?
In terms of the National Credit Act, debt counsellors are allowed to lower your monthly instalments by extending your repayment periods and by lowering your current interest rates. We have extensive experience in dealing with a lot of credit providers and know the ins and outs of the process through practical experience – no one is therefore better positioned to restructure your debt repayments!
You will not qualify for a consolidation loan if you are over-indebted. Not with us and not with anyone. If your current debt status is that you are over-indebted, you do not have the option of a consolidation loan pharmacieinde.com/. The only realistic
Debt Review is a process introduced by the National Credit Act (NCA) to help over-indebted South Africans become debt-free. Only consumers who have successfully registered with a National Credit Regulator (NCR) approved debt counsellor, such as Debt Rescue, are placed under Debt Review.
How long it will take to pay off your debt will depend on a few factors, such as how much debt you have and how much money you have available to pay towards debt. A lot of people pay off their debt quicker under debt review možete pronaći na ovoj stranici.
If you are over-indebted and falling behind with your debt repayments, debt review can protect your assets by arranging a structured, affordable repayment plan for your outstanding debt.
A debt solution company consolidates all your debt into one monthly payment and reduces your interest rates, based on your circumstances možete pronaći na ovoj stranici. This debt protection forms part of the National Credit Act. Credit providers cannot take legal action against you if you go under debt review. This means that aside from the protection of your assets, you will also end up paying less for your debt on a monthly basis.