ABOUT US
SULETTE NAUDE
Debt Success started when I lost a close friend of mine to mental health issues due to mismanaged debt processes. No one should have to suffer because of their debt situation. There is always a way to pick up the pieces and make it through on this incredibly difficult journey. You are not alone. We are a team of humans helping other humans take back control of their own lives. We treat every person as an individual and negotiate with creditors on your behalf so that you can financially survive and get back up.
There are no quick fixes and it might not always be easy - but I promise you it is possible. Don't lose hope and lets start together today. I have a debt roadmap for you and I'm here every step of the way.
HOW DOES DEBT REVIEW WORK?
Debt reviews will help you to come up with a plan B when you are unable to repay debt. If you have a stable income you can work with a debt counsellor to come up with a plan to make the repayments. Seeking the help of a debt counsellor must mean that you are really in trouble as there is the possibility of having to pay a rejection fee if the debt counsellor thinks that you can handle the debt on your own.
To start out the debt review process you will have to find a debt counsellor who is recognised by the National Credit Regulator. You will need to move onto the next step which is to give your debt counsellor your payslip, information about all of the monthly repayments that you have to make along with your ID document. When your debt counsellor has all of this information they will be able to work out whether or not you are in financial trouble.
Your chosen debt counsellor will then be in a position to sit with you and work out the numbers which will include how much you money you will need to live on and how much you will have left over to make the repayments. On your behalf the debt counsellor will contact those who you owe money to, to check if you have all of the amounts right. It is during this time that the debt counsellor will contact the credit bureau and let them know that you are under debt review.
When your debt counsellor resolves to help you they will negotiate with those who you owe money to and try to get a monthly payment that is both suitable to you and which will be enough to pay off all of your debt. A final repayment plan will be drawn up and this plan will be sent to one of the Payment Distribution Agencies. They will use this plan and take a lump sum from you each month. This money will then be split between all of the credit providers to whom you owe money.
WHAT IS DEBT COUNSELLING?
The process is also designed in such a way that you are enabled to pay your debt, plus your family’s vital living expenses. And with the completion of the process, your Debt Counsellor will issue a Clearance Certificate. This is used to remove all negative information on your credit report.
During the in-depth debt assessment, you will already receive a much-needed reduction in your monthly debt payments, plus legal protection. Then, we start negotiations with your creditors to get you a proper reduction on your monthly repayment plan.
After the court order is granted you simply have to make sure to you pay your new monthly repayment timely each month. And we’ll guarantee that your money gets distributed to your creditors.
With the successful completion of your program, we will issue a Clearance Certificate. This certificate is sent to you, your creditors and the credit bureaus – who are then required by law to remove negative listings from your report. Leaving you with a completely repaired and healthy credit score.
When negotiations with your creditors are completed we make your new, lowered, repayment plan official through a court order at the Magistrates Court.
BENEFITS OF DEBT COUNSELLING
Debt counsellors will formally review the clients finances, develop a suitable monthly budget and negotiate with credit providers on their behalf
Enables clients to make monthly debt repayments
Relieves clients from creditors hassling for money
Prevents clients from declaring bankruptcy
Maps out the path for reducing bad debt and becoming debt free
Debt Counselling is a legal process in the National Credit Act that reduces and re-arranges your debt obligations in such a way that can pay off your debt and in the end, enjoy a completely restored credit profile.