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Frequently asked questions
What is debt review?
Debt Review was implemented by the National Credit Act (NCA) as a legal debt relief process. How it works is your Debt Counsellor proposes a reorganised debt repayment plan to your Credit Providers, allowing you to make just one lower payment towards all your debts each month. This plan is then declared a… read more
How immediate is debt relief?
Debt Review provides immediate debt relief.
During the first 5 days after you enter into Debt Review, we’ll draw up an affordable debt repayment plan, easing your cash flow and accommodating your living costs… read more
Do I have to come into your offices or go to court?
Will my credit providers harass me, while I'm under debt review?
What happens when I enter debt review?
As a rule, you should contact us as soon as you miss a payment and don’t see yourself being able to make any of your upcoming payments. The sooner you get in touch, the better – you have nothing to lose by doing so, but a lot to lose by putting it off. Just being on our website indicates that your debt situation is spinning… read more
Will I lose my home or car if I go under debt review?
On the other hand, it will be too late for debt review to save your home and car if:
- 10 or more days have passed since you received a Section 129 Letter of Dem… read more
How long will I be under debt review?
What are the costs involved in debt review?
Can I trust NDA with my personal information?
Can credit providers blacklist me while I'm under debt review?
No, while you are under Debt Counselling, the credit bureaus cannot blacklist you by law. However, if you were blacklisted before you applied for Debt Review, these negative listings will remain on your credit record. This is just another reason to apply for Debt Review ASAP… read more
Can I enter debt review if I'm unemployed?
In order to qualify for debt review, you will need to be permanently unemployed. This lets your debt counsellor know that you have a regular income, and in turn, you are able to afford your debt at a reduced rate… read more
Will I qualify if I’ve been summoned to court or have judgments against me?
If you fail to contact your credit provider, after they have sent you a letter of demand or summons, they will obtain a court order and get a default judgment against your name. In which case, we will not be able to include the debt you defaulted on in your restructured repayment plan, as part of your debt review… read more
Can I apply for credit or use my credit cards during debt review?
What if I’m retrenched or hospitalised while under debt review?
Will undergoing debt review affect my job opportunities?
Can I cancel my debt review?
Yes, if only a 17.1 has been issued. Maybe, if you don’t yet have a court order and your financial situation has changed. No, if you have a granted court order.
Why use a debt counsellor?
Many people ask, “Why use a debt counsellor?” and the answer is simple. A debt counsellor can place you under debt review and ensure that your assets are kept safe from repossession… read more
When I am under debt review, will my outstanding debt keep growing?
What happens once debt review has been completed? Can I buy a house, car, etc?
If my unsecured debt is paid off under debt review, what happens with my bond?
Once National Debt Advisors has received confirmation that all your accounts are settled and your home loan payment is up to date, a clearance certificate will be issued to you… read more