FAQs

/FAQs/
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Why is debt review better than a debt consolidation loan?

If a client has missed previous debt payments or has had legal action implicated against them, then a debt consolidation loan will not be an option, as no credit provider will lend the client money at a reasonable interest rate. Ask yourself the following questions: 1. Are you experiencing financial problems? 2. Are you struggling with debt [...]

By |July 5th, 2017|0 Comments

Why is debt review better than making other arrangements?

Under debt review, clients are legally protected, as long as they pay their rehabilitation payments on time, every month. Debt review can be considered as a much better option for eradicating debt as opposed to making other arrangements, as the process is more efficient, safe and will ensure that you are debt free within a period [...]

By |July 5th, 2017|0 Comments

Can I still rent property if I am under debt review?

Debt review is not a credit agreement, therefore allowing clients to rent the property if they are in the process. ezDebt can provide a letter to the clients letting agent or landlord indicating the amount needed for the rent payment is available in the clients budget. The vast majority of agents will accept this, therefore [...]

By |July 5th, 2017|0 Comments

Will debt counselling impact employment opportunities?

When going under debt review in South Africa, certain individuals have faced a number of difficulties in the past with regards to employment opportunities. This is due to the fact that when the debt counselling process was introduced in South Africa, many employers did not have the correct understanding of how it actually worked. However, [...]

By |July 5th, 2017|0 Comments

Must all debt review clients go to court?

All debt review cases must either go to the Magistrate's Courts or the National Credit Tribunal, in order to be rubber-stamped, as per the National Credit Act. However, there is the possibility that client may need to be present in court. In order for debt review to be rolled out, a court order has to [...]

By |July 5th, 2017|0 Comments

Why must debt review fees be paid to your debt counsellors?

Debt Counselling is a formal process, which is governed by the National Credit Act. Your monthly debt repayment amount is specific to your situation and how much you owe on your debt in total. Debt Counsellors are permitted by the NCR to charge certain fees which include: A once-off restructuring fee of 100% of your [...]

By |July 5th, 2017|0 Comments

If my unsecured debt is paid off under debt review, what happens with my bond?

Once you have finished paying off your unsecured debt, settled your vehicle finance account/s and your home loan account is up to date you will qualify to receive a clearance certificate. All we at ezDebt require are the paid-up letters which prove all the accounts included in Debt review are now settled. Once ezDebt has [...]

By |July 5th, 2017|0 Comments

What happens once debt review has been completed? Can I buy a house, car, etc?

While a client is under debt review, the credit bureaus will flag their profile as 'under debt review', which will prevent the client from borrowing any more funds during the process. However, once the client has paid off their debt, ezDebt will send a clearance certificate to the creditors, notify the NCR, as well as [...]

By |July 5th, 2017|0 Comments

When I am under debt review, will my outstanding debt keep growing?

Debt review in South Africa was implemented in 2007, as a means for regulating unethical debt management companies and practices. ezDebt is a debt management company situated in Cape Town, which targets South African consumers struggling with debt. In the past, when under debt review in South Africa, it may have been possible for outstanding [...]

By |July 5th, 2017|0 Comments

Why use a debt review counsellor?

The National Credit Act (NCA) formally introduced debt counsellors, in order to assist consumers with managing their debts. ezDebt has extremely qualified, knowledgeable and supportive debt counsellors, that will negotiate with credit providers on the behalf of clients, as well as design and implement an affordable debt repayment plan. ezDebt debt counsellors aim to empower [...]

By |July 5th, 2017|1 Comment