Debt Counselling and Debt Review Process
Welcome to Debt Therapy (Pty) Ltd for South African tenants and homeowners. We specialise in helping people who are struggling to meet their credit commitments, even if they have adverse credit, bad credit rating, bond arrears, bankruptcy or other court judgements.
As a registered debt counsellor we provide debt counselling services in accordance with the new Credit Act that came into effect in June 2007.
All information disclosed to us will remain strictly confidential. We act only on your behalf and not on behalf of any lending institutions.
The Process involves looking at your financial situation - your monthly income, expenses and debt.
When we have received your application and all relevant documentation we will be able to determine if you can be placed under debt review.
Then we work out a plan that allows you to meet your monthly expenses (food, transport, clothing, etc) as well as keep on servicing your debt (lower payments).
Please note you will not be able to apply for any further credit while under debt review and still have debts to pay.
You are eligible to apply even if you have judgements against you and if you are blacklisted.
Please call us now for further information or submit your application for an initial review of your situation.
Our 5 Star Pledge
Debt Review and Applications:
JOHANNESBURG AND GAUTENG
0800 - 20 47 28
CAPE TOWN AND WESTERN CAPE
086 - 11 11 863
021 - 556 4935
DURBAN AND KWAZULU-NATAL
031 - 813 5600
086 - 11 11 863
How to Apply
DEBT COUNSELLING APPLICATION
Please follow below instructions to submit your application :
PLEASE HAVE THE FOLLOWING INFORMATION READY:
Terms and Conditions
1. Definition of terms
1.1 The Company means Debt Therapy Pty. Ltd. whose office is registered at: Unit 9, 1st Floor, Time Business Park, 37 Blaauwberg Rd, Table View, 7441 Cape Town.
1.2 The Client means the person signing authority to act form.
1.3 "The creditors" mean the creditors of the Client as disclosed to the Company.
1.4 "Fees means" the fees to be paid by the Client to the Company in accordance with clause 5 for the provision of services.
1.5 "The services" means the service to be provided by the Company to the Client in accordance with clauses 2 and 3.
1.6 "The programme" means the schedule of payments to the creditors as prepared by the Company in accordance with clause 3
2. Agreements to appoint
The Client hereby appoints the Company to provide the services of debt counsellor/adjuster and financial intermediary and further authorises the Company to negotiate with the Clients Creditors with a view to agreeing with them a solution to any outstanding financial issues which may include amongst others, a comprehensive repayment schedule and money management and disbursement plan.
3. Responsibilities to the Company
3.1 The company will communicate with all Credit Bureaus and Creditors that you have come under debt review with Debt Therapy in accordance with the National Credit Act.
3.2 The Company will examine the details of the Clients income, outgoings, assets, liabilities, creditors and related credit agreements, as a provided to the Company by the Client in accordance with clause 4.1 and shall determine the Client assets and liabilities and net disposable income in accordance with the details so supplied, being the amount that the Client can afford to pay to all his creditors either by way of monthly repayments of the sums outstanding or by way of full and final settlement of sums outstanding, or any reasonable plan offered by the Company as a solution to the Clien`s debt problems or money management problems having taken account of Clients income, outgoings, assets, liabilities and reasonable living expenses.
3.3 The Company will communicate to the creditors the net disposable monthly income available to them based on either a pro-rata formula or other appropriate breakdown of net disposable income. The Company will then represent the Client in any future discussions with the creditors. The Company will use reasonable endeavours to secure the creditors acceptance of a solution to the Client`s debt problem which may or may not include lower weekly/monthly repayments, the freezing of interest charges and the withdrawal/suspension or proceedings or enforcement proceedings in respect of outstanding default or non payment under the terms of the Clients agreements with his creditors.
3.4 In consultation with the Client and taking account of the Client assets and liabilities and net disposable income figure calculated in accordance with clause 3.1 above and reflecting the payments required pursuant to the negotiations with the creditors carried out in accordance with clause 3.2 the Company will, if requested, prepare a written programme for the repayment of all creditors on behalf of the Client out of the Clients net disposable income. This will enable the Client to pay the creditors on a pro-rata basis, if this, is deemed to be in the best interest of the Client. The function of this programme is to enable the creditor to receive an appropriate share of the Clients disposable income. Payments by the Client will be made directly to the Company`s Client fund holding account. The Company will then pay the creditors minus the fee once per month after cleared funds are recorded. Where possible monthly payments will be disbursed on the 25 th day of each month.
3.5 In the event, that the exact details of the amounts required to repay any individual creditor are not available at the time of preparation of the programme, the Company will prepare the programme on the basis of estimates of the amounts due from the creditors concerned, as provided by the Client. In such circumstances the programme will include a statement to the effect that for the sums in respect of interest and other charges may be due from the individual creditors concerned and accordingly the programme cannot include a definite statement of the total amount outstanding and the period over which repayment can be affected. However, the Company is only able to provide such information as provided by the creditors.
3.6 The Company shall liaise with the Client and creditors during the term of the arrangement at the Company`s discretion and shall use reasonable endeavours to negotiate a revised programme if necessitated by the Client inability to meet the repayment schedule and/or by a change in the Client`s personal circumstances.
3.7 The Company will throughout the duration of this agreement provide, at no further expense to the Client, the services of debt counsellor to discuss, advise and council the Client as to his debt situation or more general money management position.
3.8 The Company will not provide a substantive legal advice itself, but will endeavour to provide assistance wherever possible.
3.9 The Company will provide to the Client at any time information regarding alternative money advice options that are available
4. Duties of the Client
4.1 The Client shall provide to the Company his personal finances including, but not limited to the following together with copy documentation (if requested):-
4.1.1 Net income
4.1.2 All outgoings
4.1.3 His dependants
4.1.4 Creditors including the names and addresses, the goods secured under any credit or hire or similar agreements, the amount outstanding and the outstanding terms of any agreements.
4.1.5 Bonds or charges over his property.
4.1.6 Outstanding rates and taxes.
4.1.7 Any enforcement actions taken or threatened by the creditors to date
4.1.8 Any outstanding judgment debts.
5. Payment of fees
The Client will pay a once off setting up fee in accordance with the national Credit Regulator (currently R50).
6. Termination of agreement
6.1 The Client may give written notification to terminate the agreement with the Company at any time during the programme.
6.2 The Company withhold the right to terminate the agreement with the Client in relation to any one of the following
6.2.1 The Client breached the agreement and does not remedy the breach within 7 days of the Company bringing the breach to the Client`s attention.
6.2.2 If the client is placed under an order of provisional or final sequestration or winding up, whether voluntary or not, and judicial management.
6.2.3 The Client enters in to a compromise with its creditors.
6.2.4 With the information provided to the Company by the Client is knowingly incorrect
6.2.5 If the Company is affected by Force Majeure.
The Company agrees to keep confidential all information received from or about the Client save that the Company may refer such information about the Clients income and outgoings to his creditors as it may reasonably consider necessary with a view to negotiating with the terms for the rescheduling of their debt
Words importing the singular number shall include the plural and vice versa and words importing the masculine shall include the feminine and neuter and vice versa.
The Client hereby warrants and confirms that all information provided to the Company is true and accurate.
Any notices served under this agreement will be validly served if sent to the address of the party, concerned as given in this agreement by the ordinary course of post. The Notice shall be deemed served 72 hours after posting. This agreement shall be governed under South African Law.
11. "The parties agree that this agreement constitutes to the sole agreement between them and that any representations, warranties or the like made by one party to the other will have no force and effect unless reduced to writing and signed by both parties"
12. In the event that the company is obliged to institute legal proceedings against the client for a breach of its obligation in terms of this agreement then the client agrees that the company shall be entitled to claim payment of its legal costs on the scale as between Attorney & Own Client, collection commission and tracers fees".
13. "The client understands that the service offered by the company is a compromise arrangement that is negotiated and concluded by the company between the client and its general body of creditors and is not a guarantee or warranty against possible further legal proceedings being instituted against the client by any creditor. The company, its agents, assigns or employees will under no circumstances be liable to the client for any damages that it may suffer as a result of any creditor electing to proceed against it in accordance with South African law or any consequential loss which may arise therefrom".
SECTION 1 - WHAT DO WE DO WITH YOUR INFORMATION?
When you complete a form on our website we collect the personal information you give us such as your name, address and email address.
We also automatically receive your computer`s internet protocol (IP) address in order to provide us with information that helps us learn about your browser and operating system.
Email marketing (if applicable): With your permission, we may send you emails about our services and other updates.
SECTION 2 - CONSENT
How do you get my consent?
When you provide us with personal information, we imply that you consent to our collecting it and using it for that specific reason only.
If we ask for your personal information for a secondary reason, like marketing, we will either ask you directly for your expressed consent, or provide you with an opportunity to say no.
How do I withdraw my consent?
SECTION 3 - DISCLOSURE
We may disclose your personal information if we are required by law to do so or if you violate our Terms of Service.
SECTION 5 - THIRD-PARTY SERVICES
In general, the third-party providers used by us will only collect, use and disclose your information to the extent necessary to allow them to perform the services they provide to us.
However, certain third-party service providers, such as payment gateways and other payment transaction processors, have their own privacy policies in respect to the information we are required to provide to them for your purchase-related transactions.
For these providers, we recommend that you read their privacy policies so you can understand the manner in which your personal information will be handled by these providers.
When you click on links on our website, they may direct you away from our site. We are not responsible for the privacy practices of other sites and encourage you to read their privacy statements.
SECTION 6 - SECURITY
To protect your personal information, we take reasonable precautions and follow industry best practices to make sure it is not inappropriately lost, misused, accessed, disclosed, altered or destroyed.
Cookies Cookies are files with small amount of data, which may include an anonymous unique identifier. Cookies are sent to your browser from a web site and stored on your computer's hard drive. Like many sites, we use "cookies" to collect information. You can instruct your browser to refuse all cookies or to indicate when a cookie is being sent. However, if you do not accept cookies, you may not be able to use some portions of our Site
SECTION 7 - AGE OF CONSENT
By using this site, you represent that you are at least the age of majority in your state or province of residence, or that you are the age of majority in your state or province of residence and you have given us your consent to allow any of your minor dependents to use this site.
QUESTIONS AND CONTACT INFORMATION
Debt Review / Debt Counselling
We offer government regulated debt counselling and debt review services to help get your life back on track. As the first company to offer debt counselling services in South Africa we have the experience to listen to your debt problem and help find a solution that fits your life. If you need help to resolve your debt problem you can rest assured that you are in safe hands with Debt Therapy - you will always be our number one priority.
Instant Debt Review Application