You supply us with a completed application form and copies of your ID, payslip, antenuptial agreement (if applicable) and a recent statement of the bank account where salary is paid into.
We will make an initial assessment of your indebtness within 5 business days after receipt of the application.
If we find you financially stretched we shall notify all registered credit bureaus and your credit providers of your application for debt review.
Credit providers may now not take legal action against you.
You must however still service an affordable monthly repayment on all your debt - we shall arrange this interim structure as part of the negotiation process.
We have in total 60 days to negotiate a debt-restructuring plan with your credit providers.
Once you and all your credit providers consent to the restructuring plan, the National Consumer Tribunal will issue a consent order.
The formal debt-restructuring instalment is then implemented through a Payment Distribution Agency who will distribute your single affordable monthly repayment to your credit providers.
Once all debts are repaid or arrear amounts settled, you may request a Clearance Certificate that will end the Debt Review.
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