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Frequently Asked Questions

A section 129 notice (issued in terms of section 129 of the National Credit Act) initiates the commencement of the legal process and must be taken very seriously to stop further legal action. This notice will advise you that they have fallen behind on paying a certain amount of credit instalments on a specific date.

TAKE IMMEDIATE ACTION!

Contact Less Debt as soon as possible. If you wait longer than 10 working days, your creditors may refuse to acknowledge that a credit agreement forms part of the Debt Review process.

Public Health and Wellbeing

Unfortunately, if you are unemployed you will not be able to apply for Debt Review. You must be able to pay a fixed amount each month to your creditors. If you are married in community of property and your spouse is employed, you can apply.

Your money is paid directly to the NCR accredited Payment Distribution Agent, who in turn distributes the funds to your creditors.

The National Credit Act (Section 88(1)) prohibits customers under debt review from incurring any further credit except for a consolidation agreement.

You will still be able to rent a property.

If you provide us with your email address the PDA will send you a monthly statement/proof of payment.

We appoint attorneys to obtain a court order for you. This is to prevent creditors from wrongfully terminating your application. You are therefore legally protected, and creditors may not decide they no longer accept the proposed amount. This fee is a minimum of R1 800 to a maximum of R6 000 which is deducted from your second month’s instalment.

No. Debt review can help you save your home and vehicle, depending on your unique circumstances. The bottom line remains that you will always be in a better position to keep your home and your vehicle when you are under debt review, rather than trying to fight the bank on your own.

The bank can reclaim the possession of a vehicle in two ways:

1. By a Court Order

A court order will demand you to allow the vehicle financier to reclaim the vehicle. A court order is required to force you to give the car back.

2. Through Voluntary Surrender (in terms of the National Credit Act)

This is the preferred method by most credit providers, due to voluntary surrender being a more affordable, quicker and easier way to retrieve a vehicle. DO NOT SIGN ANY FORMS! Contact your Debt Counsellor immediately. Credit providers often blatantly intimidate consumers and very few people realise that they are under no obligation to sign such a form and give up the vehicle.

Credit providers are likely to accept a reasonable offer that shows you are committed to get out of debt. The credit providers may appeal. However, the magistrate will review your Debt Counsellor’s proposal in good faith. Ultimately creditors just want to retrieve their money, so should your repayment plan be reasonable, it is highly unlikely that it will not be accepted by the credit providers.

Only if you have a cheque account with an overdraft facility.

Once you have applied for Debt Review your creditors will stop harassing you. If your creditors still contact you, notify them that you have applied for Debt Review and ask them to speak to your Debt Counsellor.

No, once you have applied for Debt Review all legal action must stop.

Never make any promises or negotiate with a credit provider directly. Tell them to contact us.

No. We will never contact clients at work unless it is absolutely necessary. If we do, we are as discreet as possible and will always maintain client confidentiality.

Yes you can. However, we may not be able to include the accounts you have judgments for.

  • If you default on monthly payments.
  • If the Debt Counsellor does not complete the process within the prescribed time limit of 60 days.

Please note: The Credit Amendment Act, 19 of 2014 states that a credit provider is not permitted to end the Debt Review process after the Debt Counsellor has referred the case to the Magistrate’s Court whilst the hearing is still pending. You must still pay your monthly instalment to the PDA (Payment Distribution Agency).