The debt counsellor must find you over indebted in order for him to proceed with the review,
By means of Monthly income VS Monthly basic necessary expenses and Monthly debt
repayments.
You must have a monthly income.
No, the debt counsellor will inform the National credit regulator of your application and all
major Credit Bureaus of your debt review application, to prevent further over indebtness.
The debt counsellor assess all your credit agreements to ensure that there were no unlawful
Credit agreements or Reckless lending which caused your over indebtness.
Yes, the Debt counsellor assigns a payment distribution agent (PDA) that is registered with the National Credit regulator and will provide a statement of all payments made to the creditors.
Yes, speak to your debt counsellor and it will be arranged with the PDA to specifically pay off a creditor with any extra payment received by the PDA for distribution to creditors.
