Have you heard this before ??

Sounds familiar?? 

Yes? Just have a braai with friends, and friends of friends.   That is where you will find all types of EXPERTS.   Legal experts, experts in Economics, Medical experts, Financial Advisors, Weather experts, Cryptocurrency specialists, Debt Counsellors and and and.    

Most of the time you have a 3-in-1 Expert.

He/She is a lawyer, economist and debt counsellor all in one.    These “highly qualified” people are known as BRAAIVLEIS EXPERTS.  They will gladly impart their “superior” and “expert” advice.

There are many recorded cases where people have burnt their fingers acting on advice from a BRAAIVLEIS EXPERT,  OR  maybe losing out on opportunities because of incorrect information.

If you are not interested in hearing the FACTS, stop reading right here.

FACT 1:

Debt Counsellors do not take your money.   By law they cannot.   All Debt Counsellors make use of a PDA (Payment Distribution Agency).   The PDA receives your money and pay the Creditors as instructed by the Debt Counsellor.   The PDA also sends you a detailed statement of distribution every month.

I agree that some Debt Counselling companies do not inform their clients of how the process works.   Therfor the wrong perception.

Payment in Month 1:    That is the fee of the Debt Counsellor.   Subject to certain maximums

Payment in Month 2:  This is allocated to the legal fee of the Attorney to obtain a Court Order. Also subject to certain maximums.

Payment in Month 3: and thereafter:    The Creditors receive their payments.

Now, if you did not know this, you will think the Debt Counsellor is not paying your Creditors, you stop the process and you lose money.  

FACT 2:   

While you are under debt review you cannot make new debt.    Think for yourself.   In line with provisions in the NCA (National Credit Act) and under Debt Review, you are now paying less and your Interest Rates are extremely low.    The spirit of the legislation is for you to get OUT of your debt.     Not to go and make more debt.

Once ALL debts are paid, the Debt Counselling company will issue a Certificate of Clearance and send it to your Creditors and all Credit Bureau’s.    Then you CAN MAKE NEW DEBT AGAIN.

FACT 3:   

You will NOT pay forever and ever.   We use a system which is approved by the NCR, Banks and other Creditors.    Known as DCRS.    (Debt Counselling Ruling System)     

Applying this system in our Proposal to Creditors, ensures that you pay for a maximum of 60 months on unsecured debt (Ex Personal loans, Credit Cards, etc)   Vehicles and Bonds can take longer.

Be sure that your chosen Debt Counselling company uses the DCRS System.

FACT 4:   

I agree that there are complaints of some companies not responding to queries from clients or they take very long to respond.   This can be very frustrating.  You as client are already stressed about your situation, and want your queries addressed in the shortest period of time.  

I do not want to talk about other companies.    All I can say is that queries to DEBT MEDIC SA are attended to the same day or latest the 2^nd day.

And so there are varies misconceptions.    All that it does is to prevent you from exercising an option that can be very beneficial to you.

If you are considering help with your debt and you have concerns, click here to leave your details and we will get in touch.

We can also communicate on Email hermann@debtmedicsa.co.za or call 061 535 8371     We will call you back.

You need to be informed.   You will not be harassed.

And the final decision is yours.