8 Simple Techniques For The Debt Review Process - Education Centre - FNB
It is very important to keep in mind that there are some deceitful people advertising that they can assist consumers to leave financial obligation review. They take your cash, however you remain under financial obligation evaluation. You can transfer to another signed up debt counsellor at any phase throughout the debt review process. WHEN A CUSTOMER IS TRANSFERRED, THE FOLLOWING USES:.
The transferring debt counsellor should provide all customer and financial obligation counselling-related files to the receiving debt counsellor on transfer. The receiving financial obligation counsellor may not charge a new application, administration, restructuring or legal charge if these costs were already paid by the consumer to the previous (transferring) financial obligation counsellor. An aftercare charge by the receiving financial obligation counsellor can only be charged from the date of transfer.
If you stop paying, a debt counsellor could withdraw or suspend their debt counselling services to the customer. This does not indicate you are out of financial obligation review, nevertheless. To suspend services, the debt counsellor will submit type 17W(b) to all credit suppliers and update the DHS to reflect suspension of services.
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In other words, the consumer stays under financial obligation evaluation. Paying This Site : If a customer chooses to pay their credit service providers directly rather than by means of the PDA, the consumer stays under debt evaluation and needs to supply paid-up letters to the financial obligation counsellor when requesting a clearance certificate. A consumer can not be under financial obligation evaluation without a debt counsellor.
The only manner in which the consumer can have their financial obligation evaluation status removed from the credit bureau will be to pay of the complete impressive amount owing on the ended credit agreement(s), leaving out any previous concessions. While there are serious issues around the way some debt counsellors perform themselves, debt review provided Grace Bekwa the opportunity to get her financial resources back on track after experiencing monetary misery.
