There are many frequently asked questions that clients have, we have listed the most common ones below.
No. Your Debt Counsellor is the applicant in your debt review and therefore they will attend court or appoint an attorney to attend court on your behalf. You will need to provide a signed affidavit though before the court appearance.
If you participate and make payments in terms of the acceptances issued by your creditors, you will not lose any assets. If you default on the new arrangements negotiated by your Debt Counsellor, your creditors can terminate the debt review and proceed against you. This may include the loss of assets.
This question has a very simple answer, if your income does not cover your monthly living expenses and leave you enough to pay your debt, then YES, Debt Counselling is your solution.
NO! They are two different processes, using two different sets of laws to try and assist consumers. This being said, Administration is an expensive way to pay off relatively small amount of debt (less than R50k). While Debt Counselling is an affordable way of paying off ANY amount of debt.
It depends on your marriage type. If you are married in community of property, then yes, your spouse MUST go under debt counselling as well. If you are married OUT of community of property, then NO, your spouse does not need to go under debt counselling with you.
We will still be able to assist you with your remaining debt. We will also TRY to negotiate affordable payments with the creditors/attorneys who have taken judgment.