FAQs

/FAQs/
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Can the credit providers change their mind after the debt counselling proposal has been agreed upon?

Credit Providers are not allowed to change their minds once the debt counselling proposal has been agreed upon. As long as clients maintain their payment to the credit providers each month, they are unable to take further action.

By |July 5th, 2017|0 Comments

We are married in community of property. Does my partner need to apply for debt counselling?

Yes. If clients are married in community of property, they are classified as one estate, thus both the clients have to apply as a joint application. In order to understand how being married in community of property impacts whether both you and your partner need to sign up for debt counselling, you first need to [...]

By |July 5th, 2017|0 Comments

Will debt counselling cover all my debts?

ezDebt will include home loans, vehicle finance, credit cards, overdrafts, store cards, personal loans and microloans in the debt counselling process. We will then look at the client's monthly income and expenses in order to make expert recommendations about the amount the clients can afford to pay each month. Once we can agree on a repayment [...]

By |July 5th, 2017|0 Comments

Can I apply for debt counselling if I already have judgements against me?

Clients can still contact ezDebt if they already have judgements against them. However, ezDebt will insist that clients inform the company of their situation and do not fail to disclose any information, as omitting to provide certain information can have serious repercussions with the credit providers.

By |July 5th, 2017|0 Comments

Will my details be sent to the credit bureaus and my credit providers if I apply for debt counselling?

  With regards to debt review, all credit bureaus and credit providers will be notified that the client has applied for the debt solution. However, with ezDebt debt management solution, only the client's credit providers will be notified. ezDebt has implemented many rules and regulations in order to ensure that consumers are looked after and [...]

By |July 5th, 2017|0 Comments

Can I apply for debt counselling if I am unemployed?

Unfortunately, clients are not able to apply for debt counselling if they are unemployed. However, if the client is married “in a community of property” and their partner works, then the client will be allowed to apply for debt counselling as a joint application. There are various requirements that need to be met in order [...]

By |July 5th, 2017|0 Comments

Do I need debt counselling?

Debt is a widespread problem in South Africa that is rapidly increasing through the country and the majority of consumers are now in need of debt counselling Determining whether you are in debt and in need of debt counselling can be done by asking yourself the following questions: • Are you being hounded and hassled [...]

By |July 5th, 2017|0 Comments

What happens to debt review after a divorce settlement has been finalised?

If you get divorced while you are under debt review and you have the debt review court order in place, then this will need to be rescinded and for new applications to be started as it will now need to be seen as two single applications. Process you need to follow Once your divorce settlement [...]

By |July 5th, 2017|0 Comments

Can I apply for more credit or use my credit cards while under debt review?

No, clients will not be allowed or able to apply for more credit or use their credit cards, while under debt review The process Debt counselling is a debt rehabilitation process, which enables South African consumers to take control of their financial situation and bring them back to financial well-being. Clients will not be allowed [...]

By |July 5th, 2017|0 Comments

Do credit providers continue charging fees when I am under debt review?

If the client’s proposal solves under the debt counselling rules engine (DCRS), as per 80% of proposals do, then the banks will reduce the monthly fees & interest rates on their system, upon acceptance by the creditor. The fees are the first thing to be removed, even before interest is reduced. This can occur as [...]

By |July 5th, 2017|0 Comments