Follow our 10-step plan for debt review to get out of debt and gain financial independence again. The first thing you need to do is fill out our online contact form. A friendly consultant will contact you with all the information you need to proceed. You will need to fill out an application form and provide a list of important documents including your ID, proof of income and a list of your expenses, deductions, and all your creditors and debt. It’s as easy as that!
With a step-by-step plan, getting out of debt is easy
Once your application has been approved, we will notify all your credit providers, the NCR and the credit bureaus of your successful application for debt review. We will then issue a Form 17.1 to inform your creditors that you are under debt review and to collect relevant financial information. A Form 17.2 will then be issued to your creditors to confirm your over-indebtedness. We will set you up with a Payment Distribution Agency to distribute each allocated payment to your creditors accordingly. Each credit provider will be forwarded a detailed proposal for your agreed budget and repayment plan. If your credit providers accept the proposals, they will agree to a consent order. If they do not accept, we will submit your application to high court for the magistrate’s consideration. Once all of this is cleared, you are required to make the agreed monthly payment every month to the Payment Distribution Agency. We will provide annual checks to ensure that any changes in your circumstances are catered for, and adjust your payment plan accordingly. When all of your debt is repaid, we will issue you with a Clearance Certificate and notify all your credit providers, the NCR and the credit bureaus. You will have a clear credit record within five business days.
Why a debt review is beneficial
Sometimes we all need assistance in managing our debt. With us, we can ensure that you have a comprehensive, manageable and convenient system to manage and pay off all your debt. While you are under debt review, you do not need to worry about the risk of being blacklisted or legally prosecuted. For more information or to sign up, contact One Debt today.