Are you like the majority of South Africans – over-indebted and in need of assistance from a NCR Debt Counsellor? According to figures released by the World Bank, South Africans ranked as the world’s number one borrowers of money in 2014. And it seems that much of the money borrowed goes to covering basic everyday living costs; certainly not a viable financial situation in the long term.
How can a NCR Debt Counsellor help?
A NCR Debt Counsellor offers debt reorganisation and counselling to consumers burdened by too much debt. The aim is to avoid having your finances placed under administration, a time-consuming and costly option. A NCR Debt Counsellor will communicate directly with your creditors so you don’t have to, and supervise the initiation of a repayment plan so that you still have enough funds to cover living expenses.
If you’re in need of a NCR Debt Counsellor to get out from under your burgeoning debt, One Debt is here for you. Our debt counsellors will guide you through a ten-step process to no debt.
1. One Debt will assign you a counsellor who will gather all your relevant credit information, and take you through what to expect and the costs involved. You just need to submit an application form along with the documents required to complete the process.
2. Your counsellor will notify your creditors, the credit bureaus and the NCR that you have made a successful application for debt review.
3. Your counsellor will issue a Form 17.1 to your creditors informing them you are under debt review and requesting the balance for your account.
4. Once your counsellor has received all the relevant information, One Debt will issue your creditors a Form 17.2 to confirm your over-indebtedness as well as posting a notice on the NCR Debt Help Website.
5. Your counsellor will set up a Payment Distribution Agency (PDA) for you.
6. Your counsellor will send each of your creditors a proposal outlining your budget, including the repayment schedule for each of the credit providers involved.
7. If all your creditors accept the proposal, your counsellor will obtain a consent order and forward it to them. Should one or more of your creditors refuse the proposal, your counsellor will make application in court and the assigned magistrate will rule on it.
8. While under debt review, you are obligated to make the agreed monthly payment to the PDA. The PDA will in turn make payment to each creditor owed.
9. Over the course of your debt review, your counsellor will follow up to see if your circumstances have changed for better or worse.
10. Once your debt is repaid, One Debt will give you a Clearance Certificate (Form19). A copy of this form will also be sent to your creditors, the credit bureaus and the NCR. And within five working days you will be officially declared debt free.
Take action to free yourself from debt. Contact One Debt today to secure your personal NCR Debt Counsellor.