I CAN’T AFFORD TO PAY MY DEBT, HOW CAN I AFFORD TO PAY THOSE FEES?

 

The consumer is not required to pay any fees upfront and does not pay any amount to the debt counsellor directly. All payments are made to the registered Payment Distribution Agency which collects the payments by way of a debit order against the consumers’ bank account. The fees are paid by the payment distribution agency to the debt counsellor and the attorney concerned. Payment of the fees forms part of the overall plan and must fit within the amount that you can afford to pay to your creditors each month.

The National Credit Act makes provision for the debt counsellor to make a proposal to the creditors within 60 working days (effectively, almost three months) after he receives an application for debt review from a consumer. During this period, creditors may not institute action against the consumer. The affordability amount is used, during this period, to pay the debt counsellor’s initiation fee and the attorney’s legal fees.

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