Online Application for Debt Review
Please contact us if you need immediate assistance on:
Office Tel: 021 988 0285
Direct Email: email@example.com
TERMS AND CONDITIONS
The NCR have made amendments on the DC Fee guidelines that are applicable on all new consumers with an application date from 1 April 2018.
Please read through the terms and conditions and click on agree with terms and conditions to continue.
1. APPLICATION FEE DC
No fee charged.
2. RESTRUCTURING FEE
For a Single application the fee is either equal to the distributable (contribution) amount or a maximum of R8000 (excl VAT); whichever amount is the lesser. For consumers married in Community of Property the fee is either equal to the distributable (contribution) amount or a maximum of R9000 (excl VAT) whichever amount is the lesser.
3. AFTER CARE FEE
5% of monthly instalment during the complete period of being under debt review (from second instalment).
Amount can not be more than R450.
4. RECKLESS LENDING FEE
Fee of R1500 (excl VAT). Reckless Lending Assessment process as per NCR guidelines.
5. COURT APPLICATION FEE
Equal to the distribution amount or the debt counselling fee (minimum of R1500 and maximum of R8000 for a Single application and for consumers married in Community of Property the fee is either equal to the distributable (contribution) amount or a maximum of R9000.
6. DOCUMENTS VIA REGISTERED POST
Postage fees will be applicable in this regard.
The Consumer agrees that the terms and conditions hereunder shall apply.
1. The terms and conditions as set out hereunder are governed by the National Credit Act and Regulations (the "NCA) and National Credit Regulator (NCR). The NCR has the authority to issue NCR Guidelines which can be amended from time to time. The Consumer indemnifies the Debt Counsellor (its directors, shareholders, employees and consultants) against any damages of whatsoever nature and howsoever arising from changes in the said NCA or NCR Guidelines from time to time.
2. This debt review application is in terms of the NCA and the Debt Counsellor is fulfilling the statuary duty as an unbiased party between the consumer and the credit providers;
3. A debt counsellor in terms of the NCA has to make use of a Payment distribution agency (PDA) to distribute any funds, but the consumer has the option to choose to pay his credit providers directly or through the PDA;
4. The Debt Counsellor is entitled to suspend the debt counselling services, as per the prescribed form set out in the NCR Withdrawal Guidelines, if the Consumer fails to:
4.1. Comply with the reasonable requests of the Debt Counsellor;
4.2. Pay the prescribed fees in terms of the NCR Debt Counselling Fee Guidelines.
5. Upon the suspension of debt counselling services by the Debt Counsellor pursuant to the provisions of clause 3 the Consumer hereby acknowledges that he/she understands that:
5.1. There is a risk of credit providers terminating the debt counselling process;
5.2. He/she may not incur further debt;
5.3. He/she cannot withdraw from the debt counselling process after a Form 17.2 (declaration of over-indebtedness) has been issued;
5.4. Transferring to an alternative debt counsellor is subject to the payment of all outstanding fees of the current Debt Counsellor.
6. The Consumer agrees that the terms and conditions hereunder shall apply. In the event of the debt counselling services being suspended by the Debt Counsellor in terms of paragraph 3, the consumer hereby indemnifies and holds the Debt Counsellor (its directors, shareholders, employees and consultants) harmless against:
6.1. Termination by credit providers;
6.2. All claims, losses, costs and expenses incurred or suffered by the Consumer arising from any claim/s instituted by any third party in relation to or in connection with the debt counselling process.
7. Prior to the issuing of Form 17.2 by the debt counsellor the consumer can withdraw from the debt review process as set out in NCR Withdrawal Guideline.
8. The debt counsellor is obligated to refer the debt re-arrangement proposal to a Magistrate's Court or to the Tribunal for a court order subject to payment of legal fees (excluding vat).
9. A court order can be rescinded if the consumer is no longer over-indebted or if all debts have been settled in full and the Debt Counsellor has issued a clearance certificate. An estimate of costs will be provided to the consumer by the Debt Counsellor upon request of a rescission application.
By signing the declaration the consumer confirms that he / she understands the implications and consequences of debt review.