Debt Expert - Anton Viljoen


Posted by: vanessa | 2013/06/08 08:01

what happens to your debt if you want to leave debt counselling with a court order, do you have to repay all the intrest and capital or do you just pay as before dc but the balance on the pda?

Will the creditors expect you to repay all the intrest and payments that was lowered by court oder

expert answer

Posted by: Anton Viljoen | 2013/06/10 16:38

When you enter Debt Counselling you do so according to a legal process that provides you with protection against any action being taken by creditors with regard to the original debt. You need to settle all your debt as per the Court order that was given, that is what your creditors expect.  By leaving Debt Counseling before the review terms have been met or  by defaulting on the Court Order then your legal protection will fall away and your creditors will be able to lay claim to your assets, and charge you extra for penalties and interest.

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user comments

Posted by: Anonymous | 2014/02/21 12:33
I have to add to these comments. Being under debt review and having worked for a debt counselling company, it is not all bad... In my case debt review has helped me tremendously, and now after almost 3 years I am able to say I am almost done. Yes, it does limit you with regards to getting credit especially when you need it eg. need to buy a car, but in the end youll be better off than before, if you get to a good reputable debt counsellor and if you finish your debt review term.
Reply to Anonymous
Posted by: ANONYMOUS | 2013/11/05 13:33
I agree that debt review is the worst thing ever, I cancelled my debt review because i were not happy with the way the debt councillor handled my affairs. Before I cancelled debt review I negotiated with all my creditors, they were to happy to negotiate with me. I have now paid up all my accounts. When you in a debt crisis you do not have unnecessary money to pay to debt councillors. The money you pay them can be use to settle one of your accounts.
Posted by: th | 2013/06/15 04:00
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Reply to th
Posted by: Zakalwe | 2013/06/14 11:44
Hi, Tell you what? I'd keep away from that, rather try to negotiate with the creditors. I say so as you can never know when will you need to get credit and most creditors shy away from you like you have plague and the law does not protect you from this boet. In most cases it is unforseen circumstances that lead to dept so rather have that door open for yourself
Reply to Zakalwe
Posted by: Anonymous | 2013/06/13 13:52
Hi, I want to apply for debt review but my debts are for months now in arrears is it still possible to apply for debt review
Reply to Anonymous
Posted by: Anonymous | 2013/06/24 14:01
all i can say DR is the worst thing ever and should be a last resort. i owe more now than i did since being on it since 2009 and having paid in over R250.000. dont go on DR if you can help it

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