Debtcor Professional Debt Consultants in Boksburg, Gauteng

We envision a South Africa where fair credit practice is at the order of the day and thousands of over indebted consumers have been assisted by Debtcor PDC MissionSupport. Educate. Empower.
DEBTCOR FINANCIAL SERVICES IS A PROFESSIONAL SERVICE DEDICATED TO:
Supporting financially distressed families and individuals through confidential and professional counselling.
Educating consumers through our programs, services and community outreach.
Empowering consumers with the knowledge and ability to maintain control over their finances. Description When the National Credit Act was promulgated in 2007, it gave birth to the profession of Debt Counselling. The purpose of Debt counselling is to offer an alternative remedy to over indebtedness than the traditional methods such as Administration and Sequestration could offer.
Although it is a relatively new profession in South Africa, the concept has been proven in countries such as the U.S.A and... the United Kingdom.
Further indications of its success is the fact that since inception, in excess of R2 billion has been paid over to Credit Providers through the process of Debt Review.
Debt Counselling has the wellbeing of the consumer at heart, providing a tool whereby a consumer's dignity remains in tact, and ultimately be rehabilitated into the credit market.
Debt Counselling offers a remedy to over indebtedness that has the aim at rehabilitation into the credit market.
Debt Review will protect the consumer from losing crucial assets and keep the Credit Providers from taking legal action on accounts that was lawfully included in the debt review. Any consumer can apply for debt counselling, upon which an assessment will be done to determine the state of over indebtedness. If a consumer is found to be over indebted, the Debt Counsellor will notify all Creditors and negotiate with them in an effort to get the term of each credit agreement lengthened and/or the instalment reduced. In many cases the Credit Providers even agree to a reduced interest rate.
All monthly debt obligations will then be consolidated into one monthly instalment that will cover all obligations under the debt review.
Should all Credit Providers agree to the proposed debt re-arrangement, the Debt Counsellor will file an application with the Magistrate's Court to obtain a consent order which will then enforce the agreed debt re-arrangement.
Should a situation arise where not all of the Credit Providers agree to the proposed terms of the debt re-arrangement, the Debt Counsellor will file an application with the Magistrate's court in an attempt to get a court ruling on the proposed terms of the debt re-arrangement.
The consumer will then make monthly payments according to the debt re-arrangement until balances have been settled or if the consumer is able to continue with payments at the original contracted rates and installments.
As soon as the consumer has settled all obligations in terms of the debt review, the debt counsellor may issue a clearance certificate, indicating that the consumer is now rehabilitated.
Consumers are advised to ask their Debt Counsellors to give an in depth explanation of all aspects of the debt review.