In the west (or at least in the movies), filing for bankruptcy solves everything. None of your creditors can come after you. But being bankrupt can haunt you even after you recover. Many banks, credit card companies, and even employers might be unwilling to work with you. Plus, if your creditor has sold your debt, you may end up dealing with collectors who are less than scrupulous. You’re safer dealing with a Debt Counsellor sanctioned by the National Credit Act. Our role is to review what you owe and help you pay it back affordably.
We work out arrangements that are acceptable to your creditors, but won’t leave you un-fed, un-housed, or un-educated (in the case of students). Our 10-step process involves four key forms: One Debt Application form, Form 17.1 to confirm debt review, Form 17.2 to verify over-indebtedness, and Form 19 for debt clearance. We start by contacting the credit bureau for full information on your debt. We’ll review your case then call you up, explain what we do, and how much it costs. If you’re okay with that, we’ll give you an application form for our services. It will include a list of documents we’ll need you to provide. Once we’ve perused all of them, we’ll tell NCR, credit bureaus, and everyone you owe money that we’ve taken over your case.
Handing over the reins
From here on out, we’ll deal with them on your behalf. We’ll use Form 17.1 requesting an official certificate declaring all your debts, and post Form 17.2 on the NCR website for debt assistance. Step 5 involves getting you a PDA who will receive your consolidated payment and share it among all your debtors. That’s the focus – to take everything you owe your multiple, separate debtors – and negotiate a single, manage-able, monthly payment. We’ll forward our terms to your individual debtors for approval, and if they refuse, we’ll seek a magistrate’s mandate. We’ll review annually, adjust as needed, and issue a Clearance Certificate to everyone involved once your debt is all paid up. Give us a call today!