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Debt Restructuring Services have been operating since 2008

Monday, January 2, 2012

NCR Debt Help

Debt Help with a Registered Debt Counsellor is a phone call away.


But first, you would like to know what is the process to follow to be placed under Debt Review and be protected against creditors?

These are the basic steps involved:
1. Complete an application form and submit all relevant documentation.
2. We will assist you with a monthly budget and agree to a monthly debt repayment plan.
3. We will register you under debt review, which means that you are legally protected against your creditors and they cannot take legal action against you while we re-negotiate your debt and new payment plans
4. We will contact all your creditors and notify them of the new payment plan that is in place.
5. You will start paying the 1 monthly payment from the first month, to the (PDA) Payment Distribution Agency – which then in turn distributes your funds to all your creditors.  NOTE: This is a Trust Account with FNB in George. If you pay money into any other account, you will not be protected from your creditors.

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In 2002 South Africans were R360 billion in debt.

In 2009 about 60 million people have in total R1.1 trillion worth of debt.

Debt Counselling is a Government Initiative to help both the companies and the people who owe them money out of this situation. The idea is to keep the ball rolling, instead of an entire economy falling apart.