The following procedure is followed during the Debt review process

  1. The consumer approaches the debt counsellor and informs him of his financial situation. The debt counsellor gives the consumer a “pre-application form” to complete.

  2. The consumer delivers the “pre-application form” to the debt counsellor. (This “Pre-Application form” can also be downloaded from our website, completed and then submitted to us electronically)

  3. The debt counsellor completes the prescribed form (known in the debt counselling industry as “Form 16”) and this form is then signed by the consumer. The consumer, at the same time, signs a debit order authority, authorizing deductions from his bank account

  4. The debt counsellor does a credit check in relation to the consumer, to determine who the consumer’s credit providers are.

  5. The debt counsellor gives all the credit providers notice of the fact that the consumer has applied for debt review.

  6. The credit providers provide the debt counsellor with certificates of balance stating the outstanding amounts, the applicable interest rate and certain other information.

  7. The debt counsellor does an assessment to determine whether the consumer is over indebted.

  8. If the debt counsellor comes to the conclusion that the consumer is over indebted he sends the credit providers a notice (known as a Form 17.2) to the effect that that is what he found

  9. The debt counsellor prepares a proposal in terms whereof the term of the debt is extended and amount of the monthly installment is reduced.

  10. The debt counsellor instructs an attorney to apply to court to have the proposal made an order of court.

  11. The court order is then granted.

  12. The debt counsellor monitors the debt restructuring repayments until all the debt is paid.

  13. Once all debt is paid a clearance certificate is issued and the consumer is once again free to apply for credit.

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