Reduce your Interest rates by up to 100% Take the first step to take control of your finances. Get started by understanding your financial situation.
Pay a reduced monthly amount that you can afford. This means more manageable payments each month, giving you greater control over your finances.
Get protected againts lawsuits and focus on rebuilding your financial stability without legal threats.
Regain control of your finances and focus on planning your financial future without the stress of overwhelming payments.
Ensure that essential costs like rent, utilities, and groceries are taken care of even during financial challenges without sacrificing basic necessities.
Our approach is straightforward, designed to guide you out of debt seamlessly. Our goal is to relieve your financial burden immediately with reduced monthly payments and significantly lowered interest rates negotiated with your creditors.
Debt review is a debt relief process in which a debt counsellor assesses your financial situation and helps you create a manageable repayment plan. This plan is submitted to your creditors, and once approved, you make monthly payments to a payment distribution agency, which then distributes the money to your creditors.
Generally, individuals who are struggling to meet their debt obligations and are over-indebted can qualify for debt review. A debt counsellor will assess your financial situation to determine your eligibility.
During debt review, your credit profile will be flagged, indicating that you are under debt review. This can affect your ability to obtain new credit. However, the goal of debt review is to improve your financial situation and credit score over time by ensuring you pay off your debts in a structured manner.
The duration of the debt review process varies depending on the amount of debt and your repayment capacity. It can take several months to a few years. The debt review flag will remain on your credit profile until all your debts under review are settled.
No, you cannot apply for new credit while you are under debt review. The purpose of debt review is to help you manage and pay off your existing debts, not to accumulate new ones.
Missing a payment under debt review can lead to the termination of the debt review process. Your creditors may resume their collections processes, including taking legal action against you. It is crucial to stick to the repayment plan agreed upon during debt review.
Yes, you can cancel debt review, but it must be done through a court application. Cancelling debt review without settling your debts may result in creditors taking legal action against you.
Once you have settled all your debts under the debt review, your debt counsellor will issue a clearance certificate. This certificate will be sent to the credit bureaus, and the debt review flag will be removed from your credit profile.
The cost of debt review includes an initial assessment fee, restructuring fee, and monthly administration fees. These fees are regulated and will be discussed with your debt counsellor before starting the process.
Creditors will agree to the debt review plan if it is reasonable and demonstrates your commitment to repaying your debts. However, if any creditor rejects the proposal, the debt counsellor can take the matter to court for a ruling.
