Debt Restructuring

Ensure Debt Restructuring is done by a registered Debt Counseling Service that is licensed by the National Credit Regulator in terms of the National Credit Act 34 of 2005.

Our Debt Restructuring Program includes an affordable reduction, as much as 50%, of your present monthly obligations to your credit providers or lenders whether it be for secured debt for your car or house, or for unsecured debt such as credit cards or / or personal loans.

The law provides relief for debtors who have become over-indebted and are finding it difficult to meet their monthly repayment obligations.

Our Debt Restructuring Program is nationally recognized as the most effective solution for consumers who find themselves over-burdened by debt due to unfortunate personal circumstances such as the loss of a spouse’s income, the world global economy or the recent increase in interest rates.

A Debt Restructuring plan under our program is not a plan that requires refinance eligibility for a new loan.

A Debt Restructure Plan can reduce the interest rate and or the amount owing in terms of the NCA.

You will find the relief afforded by the Debt Restructuring Program will lift your morale and free you from stress knowing that those dreaded calls from creditors and debt collectors will no longer happen.

Where a Debtor requires temporary relief due to a business setback or the loss of one of the spouse’s income, the law provides relief until the income of the household has improved. The consumer may then withdraw from the program and make arrangements directly with the Credit Providers, Credit Card companies and Lenders.

The Debt restructuring plan in terms of the law is a legally binding agreement when accepted by the Credit Providers / Credit Card companies / Lenders and Servicers. Should the A&H plan be rejected by any of the Credit Providers / Lenders / Credit Card companies or Servicers, the law provides for an Application to a Court for an Order after such Court has reviewed the Debt Restructuring Plan and the Court has found that the Consumer is indeed over-indebted.

Credit Providers / Lenders / Credit Card companies or Servicers normally will not reject the plan for consumers who earn below R15, 000 unless the plan is fraudulent or unreasonable. For large Debtors many debt review companies have attorneys on staff but legal fees are not included in the Debt Restructuring prescribed fees.

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