DEBTCOUNSELLORSSA.COM
Personal Loans in Cape Town

What we do is:•Investigate reckless credit (more credit granted after you were already over-indebted)•Speak and negotiate with all your creditors in future.•Draw up a sustainable budget.•Extend the terms of repayment.•Bring down monthly payments, to an affordable•Negotiate lower interest and waive cost, in certain cases.•Draw up a new restructuring proposal for your creditors, which becomes an addendum to your contract, when accepted by the creditor.•Help you manage your accounts, until paid-off.•Issue a CLEARANCE CERTIFICATE, once your debt is paid off, to start with a clean credit record.

We offer government regulated debt counselling services to help get your life back on track. As one of the first companies to offer debt counselling services in South Africa we have the experience to listen to your problems and help find a solution that fits your life. Since very early times, there is reference to poor and over-indebted people, which has not changed over the centuries. The difference however, was that creditors were much more lenient towards debtors during Biblical times. Court rulings are heavily skewed in favour of creditors, where consumers cannot repay their debt. Millions of summonses, judgements, sales in executions and salary attachment orders are issued every year. This is to prevent that you apply for more credit, while you are under debt counselling, and paying off your debt. Even if you do not have any default accounts, draw an account and make sure the information the credit bureaus have loaded onto your record is correct. The pre-agreement must provide you with all information, such as % and amount of interest, amount of costs, what the full agreement will cost you, etc. There are also prescribed maximum interest rates and fees/costs a creditor can charge. The Credit Act prescribes that a creditor must do an assessment and must confirm income, take into account other credit agreements and make sure your budget is sustainable. In most cases, all interest and costs on the accounts will be written off and you will only pay back the capital, or that the account must only be paid back, after the other accounts were paid off. It is also important that a creditor must verify information. A creditor therefore has only three 3 years to enforce civil legal action, to collect arrear debt. This means that the debt has been completely distinguished and does not have to be paid. The aim of the debt collector would be to make profit from the book he bought. Many of the books contain very old accounts, which have already prescribed, but as consumers are ignorant about prescriptions, debt collectors yearly collect thousands of rands in unlawful collections. If the three years have not prescribed, and you admit the debt, the prescription period will be cancelled and starts running again. Remember, creditors record phone calls, so you cannot deny it afterwards. As soon as you become aware that there was a judgment granted, immediately make arrangements with the creditor to repay the money, or the Sheriff of Court will repossess your assets, to pay your debt with. You will be held responsible for any shortfalls if the debt is not settled after the auction of your possessions. A debt collector/creditor cannot just tell you he obtained a judgment, he must provide you with a copy of the judgment, and if you are still in doubt, phone the Clerk of the court where the judgment was granted, give the case number, and ask to confirm the judgment.