Zero Debt is one of the leading debt solution companies in South Africa!
Monthly Reduction
| Item | Old Payment | New Payment | Reduction |
|---|---|---|---|
| Property Bond | R 5,245.25 p/m | R 3,933.94 p/m | R 1,311.31 p/m |
| Vehicle Finance | R 3,519.25 p/m | R 2,510.68 p/m | R 1,008.57 p/m |
| Unsecured Debt | R 11,168.25 p/m | R 3,390.50 p/m | R 7,777.75 p/m |
| Total | R 19,932.75 p/m | R 9,835.12 p/m | R 10,097.63 p/m |
What is Debt Review?
If you are over-indebted and falling behind with your debt repayments, debt review can protect your assets by arranging a structured, affordable repayment plan for your outstanding debt.
A debt solution company consolidates all your debt into one monthly payment and reduces your interest rates, based on your circumstances. This debt protection forms part of the National Credit Act. Credit providers cannot take legal action against you if you go under debt review. This means that aside from the protection of your assets, you will also end up paying less for your debt on a monthly basis.
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A simple process aimed at transitioning you out of debt that is straightforward and effortless, we assist our clients in developing a repayment plan that is affordable and easy to maintain for the remaining repayment period without additional financial strain.
The plan is intended to relieve the struggle of debt immediately, as we negotiate reduced interest rates of 100% from your Credit Providers, thereby lowering your overall repayment amount.
FAQ’s
What qualifies you to be put under debt review?
You qualify for debt review if you are over-indebted. This means you are struggling with your debt repayments and have fallen behind, or are at risk of falling behind. You also need to be earning a monthly income – you will not qualify if you are unemployed. You qualify for debt review even if you are blacklisted, or if you have a bad credit record.
Why should I consider debt review?
You should consider debt review if you are unable to pay off your debt repayments, whether it be now or in the immediate future. By going under debt review you will ensure the protection of your assets, and avoid legal action by your credit providers. Debt review helps to reduce your repayments and your interest rates, making your financial situation more manageable.
What costs will I incur by applying for debt review?
The exact costs will depend on the type of debt you have and your monthly repayment amount, however you will incur debt counselling fees and legal fees. Both the debt counselling fees & legal fees are incorporated into your debt restructuring plan which means that you will not need to pay any additional/upfront fees in order for your application to be processed. The debt counselling fees that we charge are regulated by the National Credit Regulator and should be the same regardless of which registered debt review company you use. Legal fees are also determined based on the type of debt that you have and your monthly repayment amount.
Do I need to go to court?
No, you will never have to attend any court proceedings, as Zero Debt’s nominated attorneys will obtain the court order for you. The legal fees relating to the court order is included in your reduced monthly debt repayment amount.
Is debt review better than a consolidation loan?
You will not qualify for a consolidation loan if you are over-indebted. Not with us and not with anyone. The only way to prevent you from losing your assets is to go under debt review. Our debt review process fully protects your assets, as per the National Credit Act. We help you to manage your bad-debt situation by consolidating your debt into one affordable monthly repayment, reducing your monthly debt repayments & interest and clearing your credit record after you have fulfilled your restructured debt obligations.
Privacy Policy
Privacy Policy
- All personal information supplied to Zero Debt or collected by Zero Debt is kept strictly confidential.
- Zero Debt takes all reasonable steps to protect your personal information, including, where appropriate, the use of encryption technology.
- Access to your personal information held by Zero Debt may also be requested by third parties. The Promotion of Access to Information Act, 2000 (‘PAIA’) regulates and sets out the procedure for such a request and under which circumstances such access may be refused.
- You may update personal information at any time by e-mailing zerodebt@zerodebt.co.za.
- You may also view or request your personal information that Zero Debt has on record and/or correct it if necessary on written request to Zero Debt.
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