When a consumer (client) realizes that he/she is over indebted and that some arrangements have to be made to make sure all monthly repayments are met.
The consumer contacts a registered Debt Counselor who supplies a regulated form 16 and assists with the completion thereof. As soon as this form is completed the consumer will have formally applied for debt review in terms of the Act.
All requested documentation as on the application form is supplied by the consumer within 5 days of signing the form 16.
With the information and supporting documents supplied by the consumer the debt counselor now informs all the known creditors of the consumer that the said consumer has applied for debt review. This is done with the regulated form 17.1 as well as 17.2
A formal analysis is done by the Debt counselor to determine if the consumer is indeed over indebted. This is a very simple calculation once all information has been taken into account. A consumer can only apply for debt counseling if his/her monthly disbursable amount (Nett income minus living expenses) is LESS than the amount required to service all obligations. AS EXAMPLE ONLY. If the consumer only has R5000 to pay his/her debt after the living expenses have been accounted for, and the total monthly debt repayments are R6000 the application would be a success.
If the consumer is indeed over indebted according to the above method all creditors would be informed of this for their record.
The restructuring process can now begin. The Debt counselor will now restructure and renegotiate all credit agreements and present these proposed terms to all creditors. This new proposal will then restructure the consumer’s monthly commitments to be more affordable and ensure that all credit agreements get something every month.
. The new proposal will now be sent out to all the creditors after it has been approved by the consumer. Should all creditors agree to a consent order that new arrangement will be made an order of court. If there are some creditors who don’t agree to the restructuring a court date will be allocated for the matter to be heard. At this hearing the magistrate will have no choice to grant the order if the debt counselor acted in terms of the Act and subsequently restructured the debt accordingly.
All disbursements of contributions will be handled by a registered Payment Distribution Agency (PDA). The PDA is regulated and governed by the Act. As soon as a restructuring proposal is agreed on by the consumer payments of the distribution amount will be paid over from the consumer directly to the PDA. The PDA in turn will disburse with the funds as per the restructuring proposals.
The Fee structure:
Debt counselors are entitled to a maximum of R6000 plus VAT for single applications and R4000 plus VAT for a joint application.
The Act allows for the following payment of Debt counselor fees as well as Legal fees.
The first payment made by the PDA will pay the debt counselors fee
The second payment will pay the legal fees
The third payment will be the first payment that creditors receive. This is done so that consumers don’t have to pay any money that they might not have up front, and to make the process affordable.
When the payments are being made to the creditors by the PDA there will be some agreements that will be paid up before others. As soon as this happens the Debt counselor must restructure the payments again to make sure any creditor is not paid more than he must receive and to disburse the surplus equally between the other to ensure that the process runs smoothly. For this the Debt counselor is entitled to a 5% after care fee not exceeding R400.

i return to osrs

socials:
https://www.twitch.tv/gunschilli (watch me live)
https://www.twitter.com/gunschilli (read my poop)

Nintendo music used:
(pastebin coming soon)

Other Music used:

Bang Bang – Nancy Sinatra (cover by Alexa Melo)
https://www.youtube.com/watch?v=QYp5hUAo7XM
www.alexamelo.com

Rivals – Hallmore (psy trance song)

Shout out to my friends at Scuff Unit

Thank you to my Patrons:
Squeezy
Seven Kris
Manolo Ramos
Dan Branch
iTwiist TV
Kyle Stevenson
Corey A
Complextro
sktwisted
Vallun

http://www.bscc.ca/page/bankruptcy.aspx – How to avoid bankruptcy – call us today at 1-866-790-8984

or Visit:

Business Solutions & Credit Counselling Services
12033 92A Avenue Surrey, BC V3V 4B8
Tel: 604-951-8984 or 1-866-790-8984
akalsey@bscc.ca
http://www.bscc.ca
https://plus.google.com/109367218980858605482
https://plus.google.com/100755473303544230759/about

A consumer proposal is a way to come up with a solution with your creditors to repay your debts. In most proposals you repay less than the full sum outstanding, plus your creditors agree to write off the rest of your debts. It’s a “win-win” for both of you.

Just what is a consumer proposal?

Unlike an informal debt settlement plan, a consumer proposal is a legally binding agreement that you and your administrator work out with your creditors.

For over a decade, the professionals at Business Solutions and Credit Counselling Services (BSCC), a registered, government-approved credit counseling firm, has assisted hundreds of thousands of consumers throughout Canada to avoid bankruptcy, prepare a consumer proposal, rebuild their credit, and pay off credit card debt. These are clients who were once struggling to manage excessive debt and financial obligations. We work with each client individually, designing manageable, realistic programs to absolve your financial burden and stress. For more information about avoiding bankruptcy and how to become debt free, please visit us at http://www.bscc.ca or call 1-866-790-8984 today!

I’m $546,000 In Debt!!
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Welcome to The Dave Ramsey Show like you’ve never seen it before. On this channel, you will find all of the greatest highlights from The Dave Ramsey Show! The show also live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from our Ramsey Personalities —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

U.S. farm bankruptcies are on the rise with twice the number of farmers in the U.S. Midwest declaring bankruptcy last year compared to a decade ago. CGTN’s Dan Williams went to the U.S. state of Wisconsin where many are hanging on amid a trade war which has made a tough situation even harder.

South Africans in debt are borrowing money to supplement their income. That’s according to Debt Busters, the largest debt counselor.
In its latest quarterly debt report, for the 4th quarter of last year, it shows that middle-income earners are the hardest hit by this. Debt Busters has declared February, “debt awareness month” to raise awareness and educate people about the dangers of over-indebtedness.

Timmy van der Grijp, legal advisor from the debt counselling department at the National Credit Regulator is in studio.

For more news, visit sabcnews.com and also #SABCNews on Social Media.

When Is It Smart To Consolidate Student Loan Debt?

Get a FREE customized plan for your money. It only takes 3 minutes!
http://bit.ly/2YTMuQM

Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj

Become a Channel Member today: https://www.youtube.com/channel/UC7eBNeDW1GQf2NJQ6G6gAxw/join

Welcome to The Dave Ramsey Show like you’ve never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from people like Rachel Cruze, Chris Hogan, and Christy Wright —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

The first step in bankruptcy is to take the credit counseling class with https://ccadvising.com. You will receive a certificate which is valid for 180 days. This certificate is required to file bankruptcy.

Welcome to this guided deep sleep hypnosis session with spoken words, natural rain sounds and sleeping music.

This session will speak directly to your deepest subconscious resources to trigger within you powerful natural healing responses as you sleep and positively dream.

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Popular Playlists:
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7 Day Self Hypnosis Personal Transformation Challenge: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP_G2Tu_XPdT3I7M_My4HEI2
Sleep Hypnosis: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP_Po7RGMHFJ4kNbavmHhYhJ
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All guided messages in this track will allow you to move effortlessly into your beautiful lucid dreams, where your automatic higher self’s wisdom will focus your holistic healing intentions to your total emotional, physical and spiritual well being.

This session is suitable and recommended for repeated listening, and regular listening will help compound positive suggestions and / or your own positive healing results.

The end of this session will offer suggestions for drifting and dreaming into a naturally sound and refreshing bedtime sleep. As such, it is also ideal for assisting with symptoms of insomnia, depression and anxiety.

Do not listen to this recording whilst driving or operating machinery.

Peace & Enjoy

P.S. Please LINK & SHARE this video with those who you think might benefit from positive hypnosis and guided meditation. Thank you.

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More positive Playlists & Video Sessions for your consideration:

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All Guided Meditations: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP8Co6HAHWqYCrE5xQyA1u62
Hypnosis for Bedtime Sleep & Insomnia: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP_Po7RGMHFJ4kNbavmHhYhJ
Subconscious Confidence, Motivation, Self Esteem & Success: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP8PUMtzlu4P6br5Rzb2hx79
Guided Self Healing & Positive Energy: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP8Cwlg0Frc7NiFHPl9B50YV
Lucid Dreaming Hypnosis: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP8M3iWPQtEl9fOZfvLOjxnK
Astral Travel & Astral Projection: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP97AatRUEsk99H3TJAj7QbL
Hypnosis for Brain Power & Improved Self Mind Control: ? https://www.youtube.com/playlist?list=PLO9OtUmChpP8zNHZiQ6z_Ymtqy1HO1ka-
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Original vocals and photography by Michael Sealey © 2018