Chat with us, powered by LiveChat

What happens if all or some of my credit providers do not accept the debt repayment plan?

When you apply for debt counselling with National Debt Advisors, one of the first things that our counsellors do is draw up a revised debt repayment plan. The repayment plan will then be sent to the credit provider, in order to inform them that you are under debt review. However, the credit provider has the right to reject the restructured debt repayment plans.

When a credit provider rejects a payment plan, our expert debt counsellors will construct a new repayment plan for the credit provider. And if the second repayment plan is not successful, we will refer your case to the Magistrate’s Court for further investigation and final decision making.  National

Debt Advisors has to prove to the Magistrate’s Court that the restructured repayment plan is reasonable.

If certain credit providers reject the debt restructuring proposal, we will get a court order granted by the Magistrates Court to formalise the debt rearrangement proposal.

Share this:

EMAIL
FACEBOOK
FACEBOOK
TWITTER
Visit Us
YOUTUBE
PINTEREST
PINTEREST

Free Call Back Form

Fill in the form below and a consultant will call you back today to help you resolve your debt problems in a few simple steps.
  • This field is for validation purposes and should be left unchanged.
Facebook Pagelike Widget

Sign Up To Our Monthly Newsletter