FAQ

Can Both spouses be placed under the same Debt Review Application ?
 
Yes, and on condition both names appear on all documentation and there is consent by both parties. That includes the document, listed below.
 
What happens if the consumer's are married in community of property yet the one spouse does not consent to Debt Review?
 
When you go under Debt Review the NCR list you us Debt Review on the National Credit Bureaus, it will have an effect on the common estate and therefore it is advisable that consent is received from the spouse. Both spouse's income and expenses will be taken into consideration.
 
 
If the consumer is married out of community of property, is the alternative spouse's consent required?
 
No, it's not required as the consumer's are married out of community of property, but the consumer's expenses must be divided proportionally with his/her spouse's if the spouse receive an income.
 
 
What happens if the spouse's are married out of community of property, but there is a property registered in both names?
 
Then the legal implication is that both spouses are to bring a joint application for Debt Review in order to have the property included in the Debt Review Procedure.
 
 
Will I be listed on the Credit Bureau ?
 
Yes, only as Debt review! But your name will be cleared as soon as all the debt under Debt review is settled in full and the debt counsellor issues you a clearance certificate.
 
 
Must I open a savings Account Can the credit providers start legal action if a Form 17.1 has been delivered to him? Which debt's are allowed to placed under Debt Review?
 
Yes, Sometimes cheque accounts are frozen by banks, and if your salary is paid in that bank account the bank can use the money on arrear accounts.
 
When has legal action deemed to have commenced?
 
When a summons has been issued and received by the consumer.
 
 
What happens to these debts that have legal action against them?
 
We will include these debts in your proposals as a statuary deduction.
 
If the judgment are to high, what now?
 
Then our Attorney can bring an application in court to minimize the monthly installments.
 
What if a Credit Provider threaten to black list me ?
 
The Credit Provider can not black list you if you are under Debt review.
 
Can the credit providers start legal action if a Form 17.1 has been delivered to him?

No, the Consumers have protection under the credit Act.

Which debt's are allowed to placed under Debt Review?

Loans and other credit from banks, including mortgages, overdrafts, credit cards, vehicle finance and any other personal finance. Furniture finance, clothing accounts and any other type of credit from retailers. Micro-loans and pawn transitions, any other type of credit or loan provided to a consumer.








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