Consumer Debt Management

Consumer debt management, otherwise known as debt counselling or debt review, is an official legal process aimed at debt alleviation.

You will be declared over-indebted and the debt counsellor manages the process. The counsellor draws up an inexpensive repayment plan and negotiates with your credit providers. Next, the counsellor will have the repayment plan declared a court order by a Magistrate.

National Debt Advisors (NDA) is registered with the National Credit Regulator (NCR) and offers consumer debt management to over-indebted consumers. If you don’t earn enough to cover your basic monthly expenses, nor your debt payments; you are over-indebted and qualify.

 

Is It for You?

Once your counsellor has declared you as over-indebted and accepts you, the following things will happen:

  • The Credit Bureaus will list you as under debt review on your credit profile.
  • You will be protected from legal action for 60 days, provided you make your new lower payments.
  • Credit providers stop contacting you. They can only communicate with your counsellor.

Also, you won’t have access to credit until you satisfy your payment obligations. At which point, your counsellor will issue you with a clearance certificate. This is a good thing! It prevents you from racking up more debt and keeps you on track. So you can become debt free sooner and enjoy complete financial freedom.

 

The Objectives of Consumer Debt Management

  • Protects you from legal action and default judgments
  • Relieves debt stress, anxiety and depression
  • Ensures you can afford to keep up a good standard of living
  • Quick resolution of your financial crisis and immediate relief
  • Realistic repayment plan agreed to by credit providers and Court
  • You  don’t have to come to our offices or go to Court
  • You become rehabilitated back into the credit market
  • Allows you to focus on the more important things in life.