Debt Sense: Specialising in Debt Reviews
As negotiated debt review specialists registered under the National Credit Regulator (NCR), Debt Sense provides a practical debt relief option for consumers.
Debt Review was introduced in 2007 with the National Credit Act (NCA.)One of the benefits of undergoing a debt review is that it protects against legal action from creditors in the interim repayment period.
Consumers with a regular income; who are really drowning in debt.
What does the process involve?
Documentation will need to be provided to Debt Sense, such as a payslip, I.D. and bank statement. Debt Sense will then provide assessment within 5 business days and will proceed to calculate a reasonable repayment plan according to current monthly repayments.
Current creditors will be contacted and negotiated with on your behalf by Debt Sense within 60 daysand you will be listed by all credit bureaus as being under debt review. This also means that as a consumer you will not be allowed to enter into any new credit agreements until you have completed the obligatory repayments and the Debt Review is cancelled.
The court should approve the repayment plan if it’s considered reasonable. This repayment plan will involve one lump sum payment monthly to cover all listed debts. This amount is distributed through a Payment Distribution Agency. The Review can be cancelled at any point; however, credit providers may then take legal action.
Debt Sense provides free assessments for consumers who want to protect their assets, save on legal fees and change their financial realities sooner rather than later. Debt Sense negotiates the best deals for consumers, to restructure their debt in the most effective way as possible to reach financial freedom.